Fannie Mae-No Politics (FNMA)

[Donotunderstand]

with the math type change (not the logic or priniples)

if the common are worth 3-4 bucks then the prefs are worth 50% of Par

I agree totally

If there is some sort of settlement - some "offer" - I can see where such offer might have preferred converted to common at some % (not 100) of PAR