Fannie Mae (FNMA)

[SGINPHX]

I assume you refer to the preferred's as the minute the companies are allowed to retain earnings the common are worth more every quarter. Every quarter that they retain makes not only the liquidation (which at that point wont happen) in the money but at some point starts to add value both in company valuation and less dilution depending on capital choice. ( less SPO/ addtl preferred/ ?? )