Fannie Mae-No Politics (FNMA)

[trunkmonk]

2) FHFA and Treasury get out from under the lawsuits, avoiding the risk of an adverse ruling

have they won any yet? lol, I dont think thats even on the table for FHFA.

3) The companies themselves make room in the capital structure to issue new non-cumulative prefs that count towards core capital

make room for more of the same, why bother?

so a conversion would have to be voted on by the holders of every series separately. However, FHFA and Treasury are smart enough that they wouldn't bother making an offer unless it was very attractive and guaranteed to be accepted by all the series.

they are smart enough? or maybe preferreds think they deserve something they dont?

good luck, preferreds are much more of a long shot than commons IMO