Fannie Mae-No Politics (FNMA)

[chessmaster315]

The 200 billion liquidation value, after subtracting 20 billion for the preferreds,
still amounts to $150 per share. (180 billion divided by 1.2 billion shares equals $150 per share).

THIS is a good reason I go for the common, not preferred. You see, it isnt an issue of who gets first dibbs in liquidation. There is plenty for common and preferred, and there always has been.

This, in of itself, renders moot the "preferred" prefernce.