I didn't see his post earlier but I'm not sure how that would work in practice.
I guess I can dig for it but I probably won't though it is an important consideration if indeed the case as it would weaken the number of reasons that the gov't WOULD NOT exercise the warrants. I still believe the warrants are illegal, not as obvious as the NWS but illegal nonetheless.
I don't know if you're wrong ALL the time. I just like to balance your seeming paranoia with the counter.
If you read obi's earlier post, it seems that 79.9% ownership invokes no balance sheet risk to government for push down accounting. I will say that I seem to recall the House Budget Office disagreeing with the roughly equivalent position put forth by the White House Budget Office that emerged under Obama's term of office.
If I remember correctly, their CBO view was that a 100% sweep of the GSEs income made them 100% government agencies and, as such, their metrics should be included in the Federal Budget.
Then again, I am constantly reminded that I am wrong about everything, so who knows?
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