Thanks for the post Louie - well said. Shareholders have suffered through so much it would be a shame to have some intentional misinformation cause some one to make an misinformed investment decision. Good luck to all - common and preferred alike.
The public views a gift to shareholders as a gift to evil hedge funds. Pref heavy hedge funds spearheaded the lawsuits. Public comments about shareholders are actually directed at hedge fund interests if that tells yah anything. A return of overpayments to the GSEs is not a return or gift to shareholders in the public narrative.
I do think common shareholders will get a benefit like rights offering or warrants. I don't think that only preferreds stand to gain. Hedging between both is a good idea as we don't currently know what offerings will be made available for either class.