Fannie Mae-No Politics (FNMA)

[kthomp19]

There will be no JPS conversion to common.

What makes you so sure of this?

Calabria has mentioned it, it's listed as a possibility in Treasury's report, and Craig Phillips has said it could happen twice. It's not like it isn't on their radar.

It also makes the SPO smoother because there would be less liquidation and dividend preference in front of the newly-issued commons. The same is true for Treasury's warrant shares. That is one big reason to do a conversion compared with no good reason not to.

All these RRR parlays remind me of the theme song from "The Jeffersons" where everybody wanted to get a bigger piece of the pie.

Of course everyone wants a bigger piece of the pie. Even those who speak out against a conversion. It's all about money and always has been.