Fannie Mae-No Politics (FNMA)

[Louie_Louie]

Yeah, but what happens if the companies/government issue lower paying dividend prefs that are placed senior to the existing prefs? The prospectus allows this, and dont say no it doesn't because the government has seniors already that cancel the current jps dividend. All they need is to do this and let it run for a few years, pay the new prefs dividends but not the old....what would people of the current jps take for par then?