Fannie Mae-No Politics (FNMA)

[HappyAlways]

I read it somewhere a few years ago. The free warrants are just-in-case measure to ensure government is in control if the GSEs go bankrupt. Now that the GSEs have fully repaid their bailouts, I don't see any reason for UST to exercise the warrants. Maybe UST can sell the warrants back to the GSEs, as an alternative. UST did the same to AIG.