Replies to post #777349 on Fannie Mae-No Politics (FNMA)

[bradford86]

Yup. That is the mechanics. Jps have to 2/3 vote to convert to commons. At this point receivership doesnt even convert them. It just zeroes everyone out and treasury takes everything.

I think the $100b they have in net worth takes receivership off the table. All that is left is recap and release

[Donotunderstand]

see your (now deleted ?) post 777288

all about KT

and last sentence says JPS will be converted ?

The fact remains that if FnF are to be released anytime soon, the SPS and JPS will have to be converted. It's the only legal way.

but if for JPS it is accurate that the GOV needs a 2/3 vote --- how does that happen if SP/LP dilutes common massively - why would JPS holders vote their own massive dilution