Fannie Mae-No Politics (FNMA)

[Commons_Cancelled]

That is odd, isn't it? Where would the $100B come from if not from the Warrants? The only thing I can think of -- which would be 100x more sinister than the Warrants -- would be if FHFA/Treasury says we still need to pay off the Sr. Preferreds.

That would be awful and devastating to Commons. Preferreds would also not be happy, but i'm sure they would still see more value than where they're trading at today. Commons on the other hand would be wiped out permanently (aka Cancelled).