YEP. Preferred are betting on Moelis or bust meanwhile Fannie is sitting with $3 Billion retained cash ($3 per each share) and Freddie with $3 Billion retained cash or $6 per each share.
Others are betting on a brought to you and paid for by third party xxx Moelis plan. Some people are smart others not so much.
Do you even know what you're talking about? if that happens, commons go to zero. There is no scenario where commons survive if preferreds fail. You cheering for demise of the preferreds is essentially cheering for your own demise.
I own mostly commons. I want Fairholme to win. I want Perry to win. Me winning depends on them winning.