Fannie Mae-No Politics (FNMA)

[kthomp19]

Do I have your resistance to utility about right?

There is NO move under consideration to seize any shareholder's "property" or change a business plan. There is nothing communist or socialist about this plan. It, at worst case, might only enable you to make large amounts of money on common stock versus HUGE amounts of money by dumping all the risk back on the taxpayer.

You know the answer already. DDD, like many of us, just wants every dollar he can possibly get. He goes to greater lengths to justify that greed under the pretense of "rule of law", but in the end he is no different.

I am the same way myself. I don't worry about morals, outrage, "theft", Republican, Democrat, whatever. I am just trying to make a good return on my money.

This is the crux of the conflict between junior pref and common holders. Post-release there will be a certain dollar amount of equity available for this combined pool of pre-release shareholders. A dollar taken from one group ends up in the pockets of the other. This is why current common holders speak up so loudly against a junior-to-common conversion: it eats into what they perceive is "their" money.