Fannie Mae-No Politics (FNMA)

[bcde]

" Banks syndicated in the book running process will likely only subscribe to Preferred share offers because common shares don't qualify for their own core capital. "

Very valid point. Investors will be more interested in fixed income securities with some sort of guarantee that FHFA will not rob their money once again.

No one will invest tens of billions in the CS of any company and that too with a companies known to have been robbed by their Gov regulators.

Any way, in 2008, Hank and FHFA Director fooled all with their lies that conservatorship was temporary, to pre-empt any challenges to conservatorsip (within 30 days). Next time FHFA can not fool the investors.