Fannie Mae Preferred S (FNMAS)

[bradford86]

the terms of FANIP was that it was convertible at the option of the company, which FHFA stepped into the shoes of as conservator.

so, they converted them to common.

FNMFO is convertible at the option of the holder, i hold 5 shares of that. i'm not planning to convert anytime soon. liquidation preference is $100,000 per share and if dividends are resumed on jr pfd they pay 5-6%. if orget the actual number

is treasury responsible for you buying a security that they could contractually have FHFA elect to convert to common when it made sense to?

that preferred was issued under the pretense that stuff like this is illegal...

fhfa has been laughing all the way to the bank. and handing over money to whomever knows, risk sharing isn't risk sharing at all, it's profit funneling