Fannie Mae-No Politics (FNMA)

[kthomp19]

I'm in full agreement that the warrants must never be exercised. If anyone participating in Mr. Ackman's upcoming presentation is so inclined, please present questions regarding the legality of the warrants in particular, considering they were unnecessary and extracted under duress. This Washington Federal complaint should provide some basis for framing questions for Mr. Ackman. I'm not on " X " or Instagram or any such like otherwise I would participate myself - posting on this website is the extent of my involvement in social media. DON'T LET THE BASTARDS WIN.

I don't think you get it. Ackman owns the commons because of the warrants. He thinks that the warrants mean that Treasury will have an interest in having the common share price be high.

This would be true if it wasn't for the possibility of a senior-to-common conversion. That would cause Treasury's interests to be opposed to those of legacy commons as opposed to aligned, and is why Ackman listed such a conversion as a risk factor in his 2014 presentation.

The idea of fighting against the warrants sounds great until the realization hits that the alternative is worse.