Fannie Mae-No Politics (FNMA)

[Glossy]

FHFA might agree to let Treasury to convert to Prefs to common shares? Sounds illegal to me. I thought their business was to conserve, and if any conversion to be done, the twins should decide those with the contractual and legal rights of all shareholders should be left in place and respected equally. Unless there is a deal that lets them do this, which will deminish investor confidence on investing money to build capital in the future. If I was a new investor and knew that they did this, why would I invest on the re-IPO where shareholders rights are not respected?