These are the two strongest possibilities with the upcoming Ackman presentation. Since he posted on X about his Space meeting the day after the White House dinner meeting with all the investment banking and exchange execs it is highly unlikely that he did not share this already with Trump and the administration. Almost unfathomable that he would blindside Trump with something new and out of the blue.
So, 1.) either he has their blessing to put this out there because Trump and the admin need him as a major credible ally to combat the financial and government establishment that are against Trump, his policies, and FnF "release," or,
2.) he is being sent by Trump, the admin, and the financial establishment to "sell us" on the warrants - or something of similar potential value to the financial "gods."
The most obvious hold up in the entire mess is that those in the financial and government establishment do NOT want everything cancelled in favor of shareholders, but they know if given the proper scrutiny the $300B repaid plus the shady aspects of the NWS, the senior preferred shares (their converstion to the so-called liquidation preference), and the original intention of the warrants, as well as our 8-0 court jury victory all create difficulties for the government position. What is on the government's side, court related, is the time element involved with getting the whole ball of wax before a legitimate court (now that FnF are out from under the full weight of the "needing Treasury" to survive BS) - especially after it is obvious that FnF have completely obliterated any notion of bankruptcy, receivership, or TRUE under capitalization. It is for us "commoners" to chew and swallow.
So, my bet is they are looking for a way to salvage what they can, get as much as they can, before an economy or housing crash, and before it is just too obvious FnF should be released based on all they paid back and the retained capital. In my opinion this is also why they have NOT lowered the required capital ratio YET - if they do this before a deal is completed then the full self-earned full capitalization is obvious. So, they are sending Ackman to legitimize the warrants (or other, see below) with whatever transaction Ackman will be presenting.
The Financial establishment wants an MBS guarantee to do a deal and the only way Trump gives that guarantee is by getting tens-of-billions (to start) either out of the warrants or liquidation preferrence - some portion of one of these two is the ONLY feasible financial option to please the financial establishment's need for a "guarantee" of some sort.
One can avoid reality, but one cannot avoid the consequences of avoiding reality.
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