If the Treasury demands payment in full on the Liquidation Preference this will wipe out both JPS / Common: The Treasury at the same point in time could sell the companies in the open market with no worries of adding the liabilities on to the national debt. YES, ITS STEALING.
The cram-down people pushing to wipeout the common, it may BACKFIRE in your face. Instead of arguing about JPS vs Common start publishing the truth violations by the FHFA / Treasury violations of the Charter Act, the Federal Housing Enterprises Financial Safety and Soundness act of 1992 (FHEFSSA); Both as amended by the HOUSING AND ECONOMIC RECOVERY ACT OF 2008, (HERA).
The Charter Acts are Fannie Mae and Freddie Mac's enabling statutes. FHEFSSA and HERA are regulatory statutes, governing the companies' regulators. All are laws passed by Congress.
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