Replies to post #697773 on Fannie Mae-No Politics (FNMA)

[Guido2]

Why is there a need to convert jps? They are already a part of the capital structure. At some point, when it's time to pay dividends, they could be redeemed and after floating lower coupon jps.

I hold both common and preferred. But I have no delusions about my preferred magically becoming commons just before they shoot up.

If Kelly is successful:
No SPSPA.
No warrants.
No SPS.
No Liquidation Preference.
No Net Worth Swindle.
Treasury would owe Fannie and Freddie $110 billion.