Fannie Mae Preferred S (FNMAS)

[stockanalyze]

if a recap is done, it will be under c-ship so voting power of common holders is suspended (pfds holders have no voting power page 4 of 47)


http://www.freddiemac.com/investors/pdffiles/FtFPrefStock-oc.pdf


i guess you are saying that 2/3 votes are needed to amend the terms. but this says "The creation and issuance of any other class or series of stock, or the issuance of additional shares of any existing class or series of stock of Freddie Mac (including the Non-Cumulative Preferred Stock), whether ranking prior to, on a parity with or junior to the Non-Cumulative Preferred Stock, shall not be deemed to constitute such an amendment, alteration, supplementation or repeal." means they are free to do it?