Replies to post #753342 on Fannie Mae-No Politics (FNMA)

[chessmaster315]

You posted:

Commons have no voting rights. JPS can elect to receive a conversion if 2/3'rds agree.

False. Proof from the SEC:

Exchange or Conversion Rights
The Preferred Stock has no exchange or conversion rights, except for the Series 2004-1 preferred stock.
The Series 2004-1 preferred stock is convertible, at the option of the holder, into shares of Fannie Mae common stock. Each share of Series 2004-1 preferred stock is convertible into 1,060.3 shares of common stock, the equivalent to a conversion price of $94.31 per share of common stock.

Source: https://www.sec.gov/Archives/edgar/data/310522/000031052220000121/descriptionofsecuritie.htm

The source above, confirms, Preferred shares are non voting, while the common shareholders have one vote per share.

Misinformation like your's is why so many people buy preferreds.