In your opinion— if the warrant value can be used politically, do you see the possibility that the government officials in the WH pursue the path that maximizes their value and allocates the proceeds to housing infrastructure grants?
Can the government extract $100b in warrant value while simultaneously zeroing out existing common?
Like can they convert spspa and then exercise warrants? Is there an ordering requiring them to exercise the warrants before converting the spspa or thoughts there?
Dilution gets FnF nothing, FnF don’t need a capital raise, they have more cash than the original bailout. They make 10’s of billions a year. There’s already been a win for shareholders of 600+ million which will be revised up by Lamberth. The NWS was illegal and that will give government cover when they have to give back the 301 billion minus the bailout. There is no court in the land that will rule the money paid by FnF doesn’t count as paying down the bailout. The 600+ million win proves that.