Fannie Mae-No Politics (FNMA)

[Barrario]

Calabria’s comments on CNBC, on the sidelines of a major industry gathering, were somewhat rushed as he tried to explain the nuances behind the notion of a “public offering” for companies that already have shares outstanding. Holders of common shares “were never wiped out,” he said. “Whether we can do some kind of conversion with preferreds, or whether they would get par, it’s way too early to figure that out.”