Fannie Mae-No Politics (FNMA)

[contrarian bull]

The idea of conservatorship is to try and avoid receivership.

As for stockholder rights - anyone buying f&f after conservatorship started should have done due diligence and known they were buying shares with no vote. That's partly why these shares are so cheap.

Even in receivership they don't have to kill the shares - they could give shares in the new company to old shareholders if they wanted... but that seems less common. It's so much more profitable for the new company to issue new shares and keep all the cash generated.

I own some shares from before receivership - I suppose I should fight for my voting rights, but meh.