Fannie Mae-No Politics (FNMA)

[JOoa0ky]

I recall treasury making a low ball offer to JPS for like 50% haircut or something ridiculous like that... Major JPS holders declined.

I see no reason for JPS to accept another low ball offer especially with much improved conditions now.

The CBO report acknowledged that there may be quite a few scenarios where the govt must take a haircut before the JPS does. That implies, there is seniority/security with the juniors.

Honestly the most favorable scenario for me is to actually let all of the JPS remain as is and turn back on the dividends. All this common conversion is second best at most...