Replies to post #402143 on Fannie Mae-No Politics (FNMA)

[jarenawer]

Preferreds have no voting value man, please review your statements

[Pecker9Wood]

So do they get more votes per share or how does that work? For that matter how is that voting thing going?

[capitalismforever]

Preferred shares have no voting rights. They're worth more because equity is currently twice the amount the total cost is to purchase all preferreds are and pfd's have priority over commons to the equity. Upon release, commons have voting rights, preferreds don't.



Here is one of the Fannie Mae preferred contracts. They ALL state the same thing: