Fannie Mae-No Politics (FNMA)

[bcde]

" otherwise common would have been diluted to oblivion by senior preferred conversion."

RuudG,

If Hank and Obama thought that it was good idea to wipe out common shareholders with senior preferred conversion, then they would have done it long time back to benefit tax payers.

But tell us one reason why would FnF management would convert non-cumulative JPS to commons to wipe out current common shareholders and that too just benefit JPS holders. Also tell us why would FHFA and Gov/SEC approve such hare brained misadventure. Also tell us why would courts approve if challenged in courts.

You need to start using common sense.