Fannie Mae (FNMA)

[kthomp19]

Can you show us a quote where Mark Calabria ever mentioned a junior preferred to common conversion possibility?

With pleasure! The direct mention is at 1:36 in Calabria's CNBC interview in May.

whether we can do some sort of conversion with the preferreds

Start a bit earlier for more context, but it is clear that "preferreds" means the juniors, not the seniors.

Sadly, the only "fantasy" involved in talks about a junior-to-common conversion is the insistence that it cannot or will not happen.