Fannie Mae-No Politics (FNMA)

[kthomp19]

Thanks for bringing up what looks like another confirming data point with AHT. Do you have a link so I can read more about it?

Citi's conversion is the first precedent showing that Treasury is willing to have its warrants diluted by a conversion offer and that a shareholder-elected board with a fiduciary duty to common shareholders still offered a very generous conversion offer to its preferred shareholders for the express purpose of increasing tangible common equity, equivalent to CET1 capital.