In my opinion they have to make the Pfd shares money good. The number 1 way Banks raise Tier 1 capital is by issuing PFD shares. Right now Banks need Tier Capital. If Agency PFD shares are not money good, well then no one in their right mind would take the risk of buying Regions Bank, or Sun Trust or First Tenn. PFD stock. If they want to raise the cost of capital for all financial institutions, including all GSEs, Investment Banks, Insurance Companies, Banks, etc. forever go ahead and default on the PFD shares. That is not smart business.