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Re: None

Monday, 08/20/2012 8:58:24 AM

Monday, August 20, 2012 8:58:24 AM

Post# of 126
http://online.wsj.com/public/resources/documents/WilsonCenter5.22.12.BlueprintforHousingFinanceReform.pdf


Page 12, Step 3 of Millstein's proposed 9 Step Plan for "Going Private" with FnF -

"Initially, the existing Treasury Preferred should be converted into a non-cumulative preferred stock."

Check

This has always been an all or nothing play with jr. preferreds. Financially, FnF just got a sweetheart deal. Politically, the rhetoric just got more omnious. Hard to predict the future but the risk / reward still makes it a great play.