Fannie Mae-No Politics (FNMA)

[kthomp19]

You think government agencies that ignore the US Constitution are going to respect the jps contracts?

They did in the equal conversion offer in late 2020. If FHFA and Treasury truly believed that they could trample over the juniors' contracts they wouldn't have bothered making an offer to them at all.

Like it or not, commons and jps are in the same boat.

The juniors are on the deck while the commons are in the hold. The boat can take on some water, diluting those in the hold, without sinking.

Sinking = receivership anyway, which should be viewed as exceedingly unlikely.

One sinks, the other sinks too.

But you said there was only one boat!