At 20¢/share evaluate the investment as an option, not stock.
This one has the added twist of whether the total failure of quasi-government corporation with national and international visibility would be considered too much an embarrassment.
It has happened before. As a consultant, I was hired to work with one of the farm credit banks that was going through liquidation in the late 1980s. Farm credit banks have a much lower visibility than FNMA or Freddie.