Replies to post #576651 on Fannie Mae-No Politics (FNMA)

[Doc.007]

Prefs BS !!

Calabria did not put any Prefs Conversions on the table.

What's Now on the Table are Prefs Buys after Sept. 5, 2008 Legally Worthless because the Contracts or Circulars Get Not Reinstated.

The Never replying to this just as Reconfirmation !

[955]

Agreed, IF IF IF a conversion to commons ever occurs. It is NOT, however, guaranteed. In the WAMU bankruptcy case, that conversion NEVER occurred, hence, preferreds got par per contract.

FNMAS traded above par before conservatorship, and with a conversion to commons the juniors' par "ceiling" is removed entirely.