Mr Cooper Group Inc (COOP)

[fsshon]

That is not what i was saying Desp. Most articles written on WMB has stated that the bank was mismanaged. Heck Bonderman got Killinger kicked out and off the board, because of the pressure on Appraisors (for inflating home values) also for allowing Rotella to run rampant by allowing pressuring underwriters to make loans they never should have made. I am sure if WAMU would have gotten TARP, we would not all be sitting here talking about this, so there was no TARP for them to take. Also Killinger and Co did not properly inform the shareholders about the bank runs and the loss of capital they caused. TPG was brought in to basically prop up th ebank, but when they found that WMB was in more trouble than they previously thought because of the bank runs and the bad press, TPG converted Pref shares to common to help the bank sell itself. Now if WMI was willing to accept 8 Bil for WMB, not WMBfsb (where they were going to put the 20Bil in cash) WHY WOULD TPG AGREE WITH THAT DEAL if they were owed more than that? Why because it is TPG's money in the WMBfsb account. IMO Bonderman was behind it and it behind the litigation. Fishman was brought in to sell WMB, not WMBfsb.
WMI was going to put all the money in WMBfsb and maybe do something differnet. WHY did WMI downstream all the capital to WMBfsb? If they didn't know the FDIC was coming or they were only going to take 8Bil of WMB. Because WMBfsb was worth considerably more and the parent was moving on to something else. It has been disclosed that WMBfsb was bank for the elite investors/customers, It was not a regular everyday JOE bank like WAMU. This is why WMI was moving capital and the FDIC knew it and this is why it is "WHOLE BANK" on the P&A, which is illegal if WMBfsb was entirely owned by WMI. If it was then WMBfsb will need [along with all the capital in the accounts] be returned to WMI. Will this happen, if I was WMI I would not give in to JPM/FDIC on that one and if the Judge knows this, then she will award the Summary Judgement of 4.4Bil back to the parent, because it was their's or TPG's money and can be proven so. We are not talking about WMB, it is clear the parent was letting them go, we are now focused and should be concentrated on the assets of WMBfsb and subsequently the Parent WMI. Which eventually will need to be disclosed.
~Fish~