Agreed Treasury has nothing today. Warrants can't be sold in the open market and are non-transferrable until they are exercised. SPS should be dead or restated due to the NWS decision. Warrants should be dead (or sold back to GSEs) because they were never intended to be exercised from the start.
However, I don't think we are going to get best-case scenario. I'm sure we will find out how much more they intend to steal later this year, if not later this month. Clarity is coming, and it's coming fast.
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