"Often treasury lets the company buy their warrants back at a discount, and that is always a possibility here. If they bought them back for say $10 and did a stock offering for $20 at the same time it could work out well.
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Don't get too far removed from fair. The warrants have an exercise value of $0.00001 which is essentially what they cost the government. I still think it would be easy to convince a jury (in such a trial) that the warrants were an instrument of collateral although not spelled out as such. The government has "loaned" money to countless operations and I'm betting that in all those cases where bankruptcy didn't occur, warrants were cancelled when principal and interest were returned to the government. The shysters wrote the agreement where the "loans" could not be repaid which,in and of itself, is unAmerican and seemingly unconstitutional.
Gouging would be making F&F buy back something at $10 in which the lame government had invested 1/1000th of a cent....all after the obligations had been satisfied in the real World!
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