Fannie Mae-No Politics (FNMA)

[Donotunderstand]

Thank you
Seems the logic from HOWARD ---- that it is better for GOV to cancel v convert - is shaky ?

logic seems - the conversion causes a ton of shares at low price - (maybe even beating up on WTS if done first)

That makes sense on its face - BUT

If Gov moves from the 79.9% (via WT 4:1) to some higher percent by converting SP to common and then does reverse splits and then does the WT conversion - I think the GOV gets all that it wants?

What am I missing
I want the GOV to kill the SP/LP
As noted for two years - I do not want the WT conversion but if the PPS at 1B is 80-100 or so - then I can live - WELL - with 20-25 a share for my current penny shares . Summary - kill the SP as prices in dollars by the LP --- and go ahead and exercise for say 80-120B cash to Treasury over several years at 25 a share