Fannie Mae-No Politics (FNMA)

[kthomp19]

THE THEFT CONTINUES THROUGH THE LIQUIDATION PREFERENCE!

Careful, now. A common nonsense talking point is that liquidation preference only matters in an actual liquidation.

So either it does matter outside liquidation, meaning that the juniors' liquidation preference (and ranking above the commons in that respect) will be taken into account in the coming restructuring, or it doesn't, in which case the increasing senior pref liquidation preference (as earnings are retained) is actually a nothingburger and isn't worth worrying about.