"i post on fnmas board but read almost all posts here. i wonder with the increasing certainty why is the price per share of ct's not higher like a buck or two? "
Could be that no is willing to sell for a buck when 25 bucks is looking possible.
Stock', it seems to me the CTs were little known even among pfd holders. Their distinction was never plain to see until regular pfds got OBS'd. Many small fishies, like ourselves, who were in Leh pfds may not even realize the CTs still trade. Who knows, I guess.