I use to believe the whole premise of how the govt warrants are worth 100B like pagliara said...
But that is FALSE. If the govt warrants are worth 100B then by simple math of how the commons own ~20% then our share would be 25B. Divide that by ~2B shares and we have 12.50 a share.
Then if we believe KT and his valuation of FnF being around 265B... Then incoming capital will be putting in more money than what they are getting out...
--------- The govt warrants actually near worthless is my stance but I stand by that they may exchange all of the warrants for a reduction for some of the 29B return of tax credit to FnF. It just creates a situation for less money exchanging hands so its clean. They can also spin it to the media of how they profitted...
Just listened / watched the video.
1st. I hate the concept that pags still thinks the gov't earned / diserves the warrant shares.
That is the biggest farce and until that litigation is filed and resolved nothing gets really done done.