Fannie Mae-No Politics (FNMA)

[Wise Man]

In the case of Commons, it's our own money (Common Equity) being distributed. So, no big deal. The shareholders have the same wealth before and afterwards. It's like a dividend payment.
On the other hand, in the case of the non-cumulative dividend JPS, it's our own money too. So, the JPS holders are stealing from the shareholders' pockets in broad daylight, because this payment is restricted.