Mr Cooper Group Inc (COOP)

[fsshon]

OH MY GOD I FIGURED IT OUT! After re-reading my post, I got EU-RE-KA!
What does the following statement say to you guys?

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 put the 21.7 Bil 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 is behind the litigation. Fishman was brought in to sell WMB, not WMBfsb.

HA HA Diamond, you little S&%T, I think I have it.

Bonderman decides on Sept 7th (MOU w/OTS)to convert his preferred shares in WMI to Common shares. This would alleviate the debt that was actually owed by WMB. This would facilitate the selling of WMB to a buyer, because the debt would not be part of the deal. TPG converted to 220 Million shares of common stock in WMI. HUM! WHY?

WMI sent a letter in Aug. to the OTS that stated they were going to dwonstream 20 Bil in cash to WMBfsb. The letter stated that it would decrease their capital liquidity ratio, but keep it way above the min 8% required.

Money was being moved from WMB to WMBfsb, because the Board was told by their legal representatives that WMBfsb would be safe from FDIC and would not be part of a sale. So Bonderman in his all his glory wisdom decides to relieve the stress on WMB by converting his prefs into commons, because once WMB was sold, he would now have 220 million shares in over 21 Bil in cash and who knows how much assets. Bonderman was facilitating the sale of WMB only, not WMBfsb. The money was moved to WMBfsb as a safe haven, an untouchable account. The paperwork in the future should show the OTS/FDIC figured this out and took it all as a way of teaching WMI partners a lesson. This is why the bank was taken on Thursday instead of Friday, because by Friday evening, Logan's transfer would have been legally completed and WMI considered a simple depositor account of WMBfsb. They jumped the gun because of the money in the accounts in WMBfsb. Bonderman is running the show here and he knows he has 220 million shares in a ton of assets and cash and is working the legal system to not only protect WMI from creditors, use BK to re-negotiate debt and get his money back.
WMI has a strong case for the money in deposits, they also now have a chance at a much bigger payday for WMB than they were originally willing to accept.

You see Bonderman was thinking this way IMHO...
8 BIl CASH for selling banks
21.7 Bil in CASH in WMBfsb
????? Other assets..
This could have easily equaled $12-$24 PPS Diamond is always talking about, NOw the question is: Who is Diamond Guru?
Has he been correct all this time and is Bonderman running the show and is Weil's "ace up their sleeve" the above theory and the other assets that we as reg shareholders have no clue about? Why does WMI have so many accountants?

These questions and more should be answered soon!

~Fish~