Fannie Mae-No Politics (FNMA)

[Donotunderstand]

But why would the conversion rate have to depend on the market price of the commons at all? Treasury only has to negotiate with FHFA, who has no fiduciary duty to shareholders. If they want a dilution factor of 200 as a condition to let the seniors go, who is going to tell them no?

?

If GOV can get the same dollars - and it should be able to do just that - why use 200 dilution factor when they can use say 2 as a dilution factor

why

the PPS value of current WTS

why would they dilute that 200x --- if they can get the exact same sr paper money for near zero dilution and then cash in WTS at say 100 a share common