Fannie Mae (FNMA)

[CatBirdSeat]

Now wouldnt it be something if all the junior preferred were accelerated redemption before earnings; then the companies anounce a dividend to all common shareholders at earnings…

The message is dont mess with the government, and when it comes to capital structure the government does not care.

The Conservator (Acting) Has all the powers of ALL shareholders. She can do whatever the she wants to; and it would be perfectly legal.

She can redeem all the jr preferred stock now at current market prices or wait for them to lose more court cases; i.e., Lamberth gives them another big loss and they drop below a buck.

Today’s prices are the best jr preferred hokders will get other than at most ‘Par’ of $1 a share.