Fannie Mae-No Politics (FNMA)

[JOoa0ky]

I see no reason for dividends to resume for JPS. It will most likely be a conversion offering IMO. Now how favorable or just neutral will depend on common PPS at the time of offering.

Resuming JPS dividends is a drain on cash flow.
Keeping JPS around also requires a larger capital raise.

1 buck common vs 1.5 buck JPS... at the moment JPS is a better value. If commons drop below 50 cents a pop, I'll resume commons accumulation.

In my opinion, the Fisher and Reid derivative claims in the COFC have always been the best for JPS, commons, and the corporations themselves.

If they succeed, JPS should be trading around par. Their dividends should resume once Fannie and Freddie are capitalized. Sky is the limit for commons.