So, you're saying the FHFA can grant the Treasury conversion rights to convert the SPS to common stock. If that were to happen the terms of the contract would have to be voided by the FHFA the way the contract is written. And why in this world would the FHFA even consider such when the companies have paid $301 billion to the Treasury.
Why do you want the Shareholders to pay the Treasury two times? The conversion would dilute the common stock next to nothing in value.
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