Thats just fine if they keep taking Fannies money. In the end, it will come pouring from the Treasury's coffers and right into our favorite friends account as capital. The profit sweep will be deemed illegal, a violation of the 5th Amendments takings, and the taking of warrants will be suspended. The warrants will be suspended and Fannie shares will be automatically worth 5x as much as the market would price them in out of conservatorship. While FNMA may stay in conservatorship, big investors late to the game will rush in, the capital will be there, no government warrants, and profit will be shared with shareholders. Then, FHFA has no reason to hold in conservatorship and will eventually be released. Your little bitty arguments and horrible paragraphing will come to an end very soon. You have a nice weekend too. :-)