Unfortunately, you are spot on Nats - the US Treasury stood by knowing they leaked the Barrons For Your Eyes Only Memo in March predicting that F2 shareholders would be "wiped" why Fannie and Freddie sold billions of JPS to unsuspecting investors thinking that their investment would fix the capital problems for Fannie and Freddie. It is amazing that our own government did this to us. I understand why many believe the warrants should not be valid because of the intentional misdeeds of our own government -specifically Hank at the UST and the NEC under Keith Hennessey's leadership but there is no possible way forward to eliminate the warrants. In any event we all should do very well if Trump does not screw us even with the warrants.
For those of you who do not know about how the US Treasury and the National Economic Council planned to wipe out Fannie and Freddie shareholders in March of 2008 - check out the last page of this Memo that was leaked to Barrons on March 8, 2008. The Memo was for The Eyes Only of Hanks Undersecretary at the UST and fellow ex GS alum Robert Steel
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