Replies to post #589787 on Fannie Mae-No Politics (FNMA)

[Doc.007]

Prefs BS !!

CatMan at some Interview 2019 made some wage remarks to put in the room for maybe to consider and there was also the conversion mentioned, but never again !

[YanksGhost]

GOV gets converted warrants at present market value. JPS stays JPS but GOV cancels Liquidation Preference so JPS GETS 100% OF THE POOL. Deal gets struck to restore JPS divvies on a partial basis.
Dilution from warrants and JPS conversion eases pressure on IPO marketability.

One big happy family emerges at Reunion. Everybody wins, nobody gets a blockbuster deal. Life returns to normal. It's a Norman Rockwell portrait of compromise.

[curious999]

conversion also makes it easier to recapitalizatize. $33b less common needs to be sold if all jps converts. pref $ much easier to raise

[Wise Man]

THE JPS WON'T BE CONVERTED INTO COMMONS IN A MILLION YEARS.
This is the greatest conspiracy in history and you can't base your investment case on what the authorities say. A Conservatorship isn't meant to extort the resources out of FnF with the profit sweep, nor the dilution of the common shareholders, taking advantage that the conservator is using our Voting Right.
All the amounts owed to the enterprises (The Secret Plan) is common shareholders' money and the JPS can't have access to that money with a swap to commons, and also taking advantage of the stock price depressed due to the warrant (a Takings case).
Forget the word conversion in the nonconvertible JPS. It's an illusion.