Fannie Mae-No Politics (FNMA)

[curious999]

disagree .. even if exchange rates for the various series are different - and that’s a BIG if because the more existing jps converts, the easier it is for the new capital to be raised - it requires 2/3/ approval of holders of each series. if holders of the floaters don’t like the terms, they won’t vote to exchange. and if not redeemed, pls tell me why would a AA rated floater yielding1% trade at big discount?