Fannie Mae (FNMA)

[10bambam]

Damn I learn a little something every day. Many pref holders are holding short positions to keep the common price depressed long enough to get a quick recap and a better conversion. Sneaky but I can see it now. It probably was a good strategy for a long time.The stress and fear of getting burned must be awful at this point. It explains some of the posts. Getting burned on a big short position AND getting a lower conversion rate would suck. Prefs were supposed to be the safer bet, not the riskier bet!
Go FnF