The government getting money for the Warrants does not help Fannie and Freddie be Safe and Sound.
It also doesn't hurt FnF.
The Warrants should be nullified when the government is deemed as paid back by either the Court or an agreement between Treasury and the FHFA to help Fannie and Freddie be Safe and Sound.
First, the warrants have nothing to do with whether Treasury has been paid back.
Second, nobody is challenging the warrants in the courts. The court won't grant a relief that nobody is asking for.
Exercise of the Warrants would go way beyond Usury and negatively impacts Shareholders