The point I was trying to explain, Fannie Mae's Business is worth at a calculated estimate of $240 billion; this is the Intrinsic Value of the Earnings Power of the business. The amount of outstanding common shares does not in any way change this value. Fannie Mae’s common stock outstanding 1,158,087,567 diluted by the warrants at 79.9 percent adds a total of 5,761,629,686 shares… And no, I do not hope the Treasury gets away with this theft by exercising the warrants; that would be stealing.
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