No, if I remember correctly, they were awarded preferred shares. And, even if an “equity partnership”, partners cannot unilaterally void contracts, no matter how unpopular said contracts are.
Yes, I believe you are correct now that I think about it. At the time, there was a lot of chatter about the deal that Warren Buffet got and many people were wondering if the Fed got the same terms (that Buffet got). It was some type of preferred stock arrangement.