Fannie Mae Preferred S (FNMAS)

[skibrian]

we would want them to buy the sr. back, and it would be the same as redeeming the stock and paying back the taxpayer.

they already have warrants for 79% of the company. If treasury converted the sr. pfd., then they would own at least 80% and trillions of debt come on the books (though largely offset by assets, the USA politicians aren't keen on growing the federal balance sheet, especially with what the public views as "risky fannie and freddie"

nope, this author provides the best solution in that sentence...the one I would support.