Fannie Mae-No Politics (FNMA)

[bcde]

"You cannot talk about the Q&A here, he said they should convert the pref to common..."

Re-read what Craig said:

"The junior preferred stock should be exchanged for common stock on a basis that is viewed as fair, based on capital markets standards and the prevailing market value of those securities. "

It is ok if JPS conversion is beneficial for FnF and FnF CS shareholders. But this needs to be decided by CS shareholder elected BOD and CS shareholders.

Revolving door bureaucrats from WS are not the right people to decide on how to capitalize FnF, leave alone deciding on conversion of JPS.

Besides all have to understand that Craig worked for UST a investor in FnF and basically Craig is representing the interests of UST and WS.