Fannie Mae-No Politics (FNMA)

[Ace Trader]

If and when Congress acts and changes this before SCOTUS makes a opinion 1st Q 2024 then congress has until then to make the changes. That would mean they would have to do the conversions this year and before the changes to there structures ? correct ?

https://www.law.cornell.edu/uscode/text/12/4612

So that would mean converting both SPSA AND JPS. But ! JPS would have to agrees to any conversion correct ?

Congress couldn't do the conversion after making the structures as that would be against the law (self serving) ?

1) They believe writing down the senior preferred balance is ILLEGAL,
2) They believe the most workable solution is to convert the senior preferred and jr preferred to new common shares on an equal basis. This would leave very little for legacy common holders unfortunately.