Fannie Mae Preferred S (FNMAS)

[rosen62]

Thank you for posting this. Could not find it.

There is a recognition of shareholders. That is the good (great) news.

But,

it can get crowded before any payouts to Jrs./Common. We don't know the size of the reserve funds that she recommends the Treasury to create. This can be sizable as it relates to the wind-down.

Although it is great news that Jrs. are in line for redemption (#5) and commons in position #6, these last are greatly diluted (they will include exercised warrants). And we can't establish how much money will drip into the waterfall. So no real reason to get excited yet.