I have a feeling infrastructure spending will be paid by congressional appropriation. A bill will pass. So this idea that the infrastructure is dependent on GSE recap is bogus.
Don't get me wrong. They still want the $100 B. But the money will go somewhere else, probably vanish in the back alleys.
The government doesnt need the warrants. They can just borrow. They already gave 1.5 trillion in tax cuts to the rich and corporations. They can just add another 100 B to the 1.5 Trillion. By the right of law and by the moral thing to do, the right thing to do is give the warrants back to F and F. Other wise investors will loose total confidence in the justice system and that is much worse than than 100 Billion.