They are for now. But Mnuchin and Calabria need to attract big investment. And once that first group is in place, they will have greater control over the proceedings.
On that point, I agree with KThomp.
The good news for commons is that I see the money coming in multi rounds, with ever increasing share prices as risk is lessened and the GSE's themselves assume control of their own companies, along with their fiduciary responsibilities to investors.
Add in a 2021 real estate boom, and you probably have a very good one to two year window for current commons.
No comment on preferreds or court cases, because those situations remain in limbo.
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