Fannie Mae-No Politics (FNMA)

[Louie_Louie]

From JPS purchase contract, more interesting FACT:

We have the right to create and issue additional shares of Preferred Stock and additional classes or series
of stock that rank, as to dividends, liquidation or otherwise, prior to, on parity with or junior to the Preferred
Stock, without the consent of holders of the Preferred Stock.

BOD can issue new prefferred's to raise capital that rank higher, like the current seniors, leaving current jps further down the dividend ladder! You guys say the share structure matters.,Lol

No bueno....I wonder how many new prefferred's with a lower dividend will be created that will get their dividend payment while current jps languish?