"FHFA/Companies can't request the JPS to Convert by means of a 2/3rds majority vote. "
Fake JO,
Let us see whether if this could happen without serious repercussions.
You are clearly suggesting that FHFA/J.O. and Companies will collude to benefit JPS holders at the cost of other stakeholders. Probably you are also including TSY/SM and many in Trump administration.
Simple question one would ask is, why would all these collude to benefit JPS holders at the cost of companies and CS holders?
Clearly any one can suggest that it was to benefit large holders of JPS. BTW many of these are publicly known personalities who supported with campaign contributions. Clearly this violates many laws starting with campaign contribution laws. (https://legal-dictionary.thefreedictionary.com/quid+pro+quo).
This will open up can of worms for all involved.
Will FHFA IG just keep quite? What about congress and judiciary?
One must be really crazy to come up with such a stupid scheme.