I assume the simplest situation !!! --- no SPO ---- indeed for now no release --- but TREASURY says SPS is paid off - and same day exercises the warrants for 4B shares
If the 250B below is Fannie alone that this 50 bucks a share at 5B shares If the 250B below is F and F together (which fits many prior posters) that is 125B or so for 5B FNMA shares - 80% to GOV and 20% to us . 20% of 125B is 525B divided by 1B shares = 25