Fannie Mae (FNMA)

[Guido2]

First, none of the plaintiffs have asked for conversion. Preferred plaintiffs are asking for dividends. If paid to them, lawsuits are resolved.

Second, converting jps doesn't increase the capital. Pointless. Just increase lawsuits.

Third, Calabria's plan has exemptions to pay new preferreds and new commons before they are fully capitalized. Try reading the plan.

You can add more reasons. Face it. It's not happening. As Ackman said November 4, 2019 the major holders of preferreds have already started their own conversion.