Fannie Mae Preferred S (FNMAS)

[5bagger]

"His proposal leaves all the money with old Shareholders"

Sam1212

Yes, that is my impression, as well. The capital cushion ($9B each) is worth something, plus all of the lawsuit money + the loss reserves (which won't materialize).

In essence, a good bank / bad bank deal.

Capital restructure may require a vote by commons, too. I believe the commons have more value and power than Berkie gives them credit for.

But - the key thing is this... and why it was BRILLIANT.

The unlocked value of the companies is evident. The "floor" for a proposal for a co-op to hand the keys over to the banking lobby is now "in".

What say you bankers (Waters and NY Fed) - did you think Berkie and Boys were going to let you steal the guts of the operations without a counter-proposal.... LOL... Berkie beat you to it.