Fannie Mae-No Politics (FNMA)

[rekcusdo]

So, I've started reading the blueprint.

Where exactly are people getting this PAR thing from?

It says they would convert jr. preferred to common. There's no PAR at that point. lol. They also say that the accepted value of shares should be determined by the market. Therefore, they'd convert based on whatever the preferred are selling for at that time (plus perhaps a small premium).