Replies to post #499802 on Fannie Mae (FNMA)

[HoldenWalker99]

Where did I mentioned usurping powers from common shareholders?

Talking about this (page 23: http://www.freddiemac.com/investors/pdf/FtFPrefStock-oc.pdf):

Amendments
Without the consent of the holders of the Preferred Stock, we will have the right to amend the
CertiÑcate of Designation to cure any ambiguity, to correct or supplement any term which may be
defective or inconsistent with any other term or to make any other provisions so long as the
amendment does not materially and adversely aÅect the interests of the holders of the Preferred
Stock. Otherwise, we may amend the CertiÑcate of Designation only with the consent of the holders
of at least two-thirds of the outstanding shares of Preferred Stock. On matters requiring consent,
each holder will be entitled to one vote per share.

If you take issue with FHFA/UST converting preferred shares to common share and ostensibly usurping powers from common shareholders, HERA allows for capital restoration plans to be submitted by the GSEs and approved by FHFA (as you are well aware).

[duckdynasty]

Rek: Preferred have back door voting rights. They kiss the butt of the congressman they prefer to vote.