Fannie Mae-No Politics (FNMA)

[Fannie Heyyyyy]

Kthomp, thanks for taking time to respond. Very interesting scenario, and one I tend to agree with. Gov't is going to maximize all they can upon exit. Shareholders will just have to deal with it.

Based on your thoughts about the possible scenario of converting the seniors to commons and JPS into commons, am I understanding this right?

I'll calculate JPS shares at 50% and 100% par with a low conversion to common at .25 cents per share and $2.00 per share based on your speculation.

30k JPS shares at $12.50 (50% par) = $375k
$375k ÷ .25 cents (conversion to common shares) = 1,500,000 common shares.

$375k ÷ $2.00 = 187,500 common shares

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30k JPS shares at $25.00 (100% par) = $750k
$750k ÷ .25 cents (conversion to common shares) = 3,000,000 common shares.

$750k ÷ $2.00 = 375,000 common shares

Is this what could happen in the example you laid out to me? Interesting.