Fannie Mae-No Politics (FNMA)

[Louie_Louie]

I keep asking how liquidation preference works with JPS when it is known now that the government will never put the GSE's in bankruptcy? This was one of the reasons the jps investors piled in years ago when Obama kept threatening liquidation, but knew otherwise. If you lose liquidation, and over half the jps pay a crap dividend, then what are you giving your money for? JPS keep talking about capital structure also, which is laughable right now. Capital structure is government senior prefs, government warrants, government all dividend and profit.
So someone who is jps holder please explain their investment thesis, but without using conversion in the explanation because then I will want you to provide solid, uncontestable proof from someone who is point in the conservatorship that has stated explicitly a conversion and how it happens.
I'm waiting, still.