sort of fits with hoping the GOV sees that capping shares at 5B and using the WTS at say a 25 dollar price is good for GOV (and overnight we have 25 dollar shares as our 20% is identical to that 80% --- but there is no SPO and likely the GOV greased the way by zeroing out the SP LP
Therefore, the only way for the government to still make money out of its "investment" is recap/release and, if necessary, exercise the warrants and/or convert the SPS in whole or in part into common shares.
The government has already received 10% per annum on its 'investment' in the gses.
Why would new investors put a dime into a public/private partnership when their prospective partner has spent the last 13+ years raping and pillaging their private capital, requiring only the most deep pocketed investors to take on their wayward government partner with hundreds of millions in legal fees and litigation measured in decades?
"Therefore, the only way for the government to still make money out of its "investment" is recap/release and, if necessary, exercise the warrants and/or convert the SPS in whole or in part into common shares. "
Why would Gov care about making money by robbing FnF and not sure about what will happen in the courts? Gov can legally create money in billions with just few keyboard clicks?
The main reason for revolving door bureaucrats to rob FnF was to impair FnF and destroy them for the benefit of their cronies.