Fannie Mae-No Politics (FNMA)

[kthomp19]

You are correct the preferred shares will not be converted.

What makes you so certain of this? Especially in light of Calabria and Mnuchin both specifically mentioning it as a possibility? (It is also in both Fannie and Freddie's 2019 10-K reports, as a copy-and-paste from Treasury's September report)

But make no mistake the JPS are senior to the common stocks in every way and this will be proven as the cases progress

Why would such seniority not extend to a demand for a favorable conversion? Preferred shareholder plaintiffs have the leverage to make this possible.