my response to Glenn's new article...I like the article- good info, just not the conversion.
"It's obvious Mnuchin is running this whole show. High cap rule unless changed helps his bankers boys club. Not to mention that his alma mater Goldman sucks will be involved in raping Fannie with the treasury at the same time. DUH
Last but not least, I agree with the poster "the other street" on how this plays out. I do not see Lambreth going out on his own and magically giving pref a raise in par price and a mafia type conversion to commons. Maybe could have happened many years ago, but with several high courts and judges involved right now and especially with Selia law about to be decided, there is no way Lamnbreth does any conversion because it would be illegal. It won't happen in settlement either.
Only way conversion comes is later when companies are getting ready to their own cap raises and prices will no longer be 3 or 5 to one.
Simple answer for pref is sell and convert on your own when you reach 80 or 100 percent of par.
If you disagree with my post, which is fine. Then please provide the magic answer on how Lambreth who is overseeing pref lawsuits gets the power, ability, and desire to screw over commons to settle pref claims. He will not or treasury would havre already done it 2017. IMO
GLTA to all shareholders going forward."
