Fannie Mae-No Politics (FNMA)

[JSmith5]

If any conversion happens at a fair exchange rate, there's nothing wrong with it.

Thanks Fully Diluted. As a holder of preferred I used to be generally agnostic whether they were redeemed, the dividends turned back on or converted. But, as a holder of common also, if they are talking about meeting the capital requirements by issuing more common and leaving the JPS alone, I would rather see them converted and eliminate the $2B/yr Junior dividends. (rather than pay this on tops of dividends for new shareholders.)

Nats