Mr Cooper Group Inc (COOP)

[David West]

Absolutely ludicrous.

No bankruptcy judge in any bankruptcy court is the super-hero protector of ANYONE. THEY DO NOT REPRESENT ANYONE. Their sole purpose is to referee and guide the DEBTORS (who requested the bankruptcy) and CREDITORS to a POR they both agree to; in the case of WAMU, it included the equity committee. IT DOES NOT MATTER TO THE JUDGE WHAT CAUSED THE BANKRUPTCY OR WHAT THE PARTIES AGREE TO IN THE POR. YOU, or anyone else, should direct your wrath in this matter toward the debtors or the EC. If there was any basis for filing charges, either criminal or civil, the debtors or the EC should have filed charges IN A DIFFERENT COURT, once they got the permission of the presiding BK judge. This is exactly what was going to happen when the EC and Nate Thoma had their fifteen minutes of fame in this matter. The judge did not want the EC to file insider-trading charges in a different court, and was not going to approve of the action. Instead, she threatened the bad-guys with “Equitable Disallowance” if the court-ordered mediation failed to resolve the matter.