Fannie Mae-No Politics (FNMA)

[Stern is Bald]

Preferreds love to cry warrant conversion as that props up their argument the JPS will be more valuable.
Let them try but when this goes in front of a judge the argument should be this easy:

1. Original contract for warrants written as collateral for repayment
2. Judge "have you been paid back the full amount and the 10%"
3. Gov't "yes"(and 100 billion over that plaintiffs argue)
4. Guess what 4 will be?


They have to settle of some type of damages to get this through w/ immediate lawsuits and possible injunctions.