Replies to post #757341 on Fannie Mae-No Politics (FNMA)

[LuLeVan]

I would be more in favor of legacy common and JPS shareholders benefiting equally from the release. That would be fair. But the injustice already began in 2008 with the introduction of HERA and the conservatorship. Since then, the government has stayed the course, even gradually tightening the thumbscrews with the NWS, and the courts are helping it along.

The reason I hold JPS instead of commons is simply so the government can do less harm to JPS.

I write this to clarify that not all JPS holders "hate" commons or wish harm to legacy common shareholders. On the other hand it's evident that a SPS-to-common-conversion would result in JPS reaching par value fairly fast. That's why this strategy is pursued by most plaintiffs in the remaining lawsuits. Commons can't be saved anyway.

I'm actually more eager to see the complete destruction of commons rather than what happens to the JPS.