Mr Cooper Group Inc (COOP)

[Polemarchos_Megas]

The FDIC lawyer besides ridiculing Nelsons rational of "a small amount of WAMU assets gained 30 Billion in the 1st quarter 09" as a fantasy. He also stated that such claims, though going up into thin air would, if they materialize, be eligible to the Bank Bondholders. Furthermore they could be blocked by the FDIC "within a week" because of FIRREA.

Walraths answer: "You will be given that chance to object with the examiner"


Putting that scene aside. If "a small portion of WAMU" generated 30 billion gains in just one quarter and asumming the real estate, subs, NOL, art collection etc... we are sooooo in the money that I start believe that economics Dr.'s shareholder letters.

And even if we just get a fraction of that we are here for XXXX% recovery.

In fact, settlement would be a downgrade with the only benefit being that is comes sooner than later.

Furthermore I think that the FDIC threatened that the deal might evaporate if it takes too long. Thats pretty much an own goal and Walrath ruled accordingly. I wonder how long it will take for them to flip flop and start urging us to acept any settlement just to away before the Examiner finds the SH;T that will hit the fan.