Fannie Mae-No Politics (FNMA)

[Wise Man]

The idea that a nonconvertible stock into any type of asset class, will be "offered" a conversion to common stock, is as crazy as it gets.

Have you ever heard of a convertible stock? For instance, ticker FANIP: Fannie Mae, 8.75% Non-Cumulative Mandatory Convertible Preferred Stock Series, 2008-1, liquidation preference $50 per share, was converted to 1.8182 common stocks on 5/13/2011 per contract specifications.
The JPS holders will have no other option than defending the Separate Account plan that recovers instantly their par value in full.
Then, the penalties on those peddling the Govt theft story in formal documents: articles, books, letters, financial analyses, court briefs, etc.
You'd better fight for our company instead of Mafia financial engineering that leaves FnF with a combined Retained Earnings account of $-216 billion.
In the case of a Leveraged Buyout, the prospective buyers could redeem the JPS very fast, in 1 year or 2 there won't be any JPS outstanding on the balance sheet and they would trade at pae value in the meantime, aftee the resumption of a restated dividend payment.