Replies to post #355195 on Fannie Mae-No Politics (FNMA)

[chessmaster315]

Buying exclusively preferreds, while bashing the commons like you do, is a mistake.

As I have explained, the preferreds are NOT cumulative preferreds, but Im not sure you get that concept.

Equally as important, the preferred shareholders have "no vote" when it comes to electing board members, who will serve the interests of the common shareholders who elected them. We voting common shareholders simply will not vote in any board member who wants to mess with the "non cumulative preferred" status.

This means that any dividend "windfall" that could ensue will only benefit preferred holders IN THAT QUARTER, not in the 8 years while the government stole all our dividends. If there is a one time dividend repayment, most of that would go to the commons, and only ONE quarter's worth would accrue to the preferred.

[mhill_fin]

I admit. I am mostly a preferred holder. However, you are underestimating the human element here. Anyone who has researched this from an unbiased standpoint has all seen the same thing. You can't help but see it all. Most of us knew squat about the entities before we stumbled upon this. But the fraud is as clear as day here. There's absolutely no question about it. We've all become attached to the situation and it's almost like seeing your own child come upon a hardship. We are all fighting for the right thing and we all know what it is beyond a shadow of a doubt. It's the right thing to do and the good people with good intentions all know it.

I'm going to continue to fight for preferred, common, Fannie, Freddie, Fairholme, Perry, Ackman, the middle class, the under-served. Try to rip us apart and belittle all you want. You may say we are searching for cosmic justice and write us off. Whatever. Don't let your hubris mislead you on what everyone is fighting for. I guarantee you there's a lot more than money to it for so many of the parties. We're human beings for chrissakes. Don't ever underestimate that. There are ways to make money and protect your investment while caring about society. It does happen. And this is the ideal scenario to give a shit about something for once in your life.