I dont think they will sell those 1 million shares at common prices, and fannie cant pay off those shares without a mechanism to destroy the 2012 amendment. unless that is gone there is no way to pay down the shares. the only alternative is the conservator and the treasury amend the terms again to allow for something to happen where the dividend is paid out to common and preferred shares and this would jump the price to 30. then at 30 they could sell warrants and make a killing or they could kill warrants all together. it will be the fhfa or the courts who decide what to do. It is also possible as soon as netzero is done new lawsuits against the entire conservatorship are brought to free these companies as all the money that has been swept should have gone against paying down the govt preferred stock as the original agreement would have allowed and the fiduciary duty of the fhfa was to take care of this company and its stockholders, and it obviously put taxpayers and treasury in front of its duty to stock owners. Meaning his agenda was not to look conserve the company but to rob it of all possible way to recapitalize. enslaving stockowners to an agreement in 2012 that was entirely one sided. the govt side.