By recollection, there was no settlement for damages awarded by Judge Wheeler. His decision was that had the government not acted to save AIG, the shares would have proven to be worthless, anyway. An appeal of that decision is still pending.
There are differences between AIG and the GSE's warrant scenarios, notably the statutes under which they were conceived. But one historical tidbit that I do find of interest is that in AIG, government exercised and sold warrants for about 70% of equity and recovered around $22 B after selling 5 or 6 tranches over time. Compare that to Ackman's conservative estimate of a $20 Fannie Mae S/P after release from conservatorship. With the exercised warrants equivalent to over 4 billion shares, that would bean additional $80 B to flow to UST on top of the surplus already paid back. And that's just the Fannie total, so add like another $40 B for Freddie where the same warrant arrangement reposes.
I think jeddiemack laid out this insanity well in his post from last night. This is just an inexplicable reward to government for the bailout effots undertaken.
As always, JMO.
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