Fannie Mae-No Politics (FNMA)

[Commons_Cancelled]

Commons deserve to be screwed, again and again. They are the ones to blame for this whole mess. They did not stand up and vote out the Board before the Conservatorship was ever put into place. They failed all shareholders.

Now, Commons are in the back-seat -- possibly even in the Trunk! They have no say what comes next. And while Preferreds don't have voting rights, they're the ones fronting 10s-100s of millions of dollars to fight the FHFA/Treasury in court to try and right this wrong. You sure as sh** better believe Preferreds will get favorable treatment as compared to Commons in any proposed resolution.

In the end, if Commons only see $1, that's their fault. They made their bed, now they have to lie in it. They'll be awfully lucky if Moelis is the Plan since they will greatly benefit from it.


#AverageJoesForMoelis