Mr Cooper Group Inc (COOP): I think you don't get the "theory" right...

Reply Private New

Replies (1) Next 10 Prev Next

Send PM Follow Ignore

Followers	73
Posts	8833
Boards Moderated	0
Alias Born	06/05/2014

JusticeWillWin

Re: bkshadow post# 412361

Monday, 01/19/2015 10:12:22 AM

Monday, January 19, 2015 10:12:22 AM

I think you don't get the "theory" right

FDIC took WMB and WMB subsidiaries and also wrongfully WMI assets
FDIC realized they messed up things
FDIC sold WMB (and everything "below") to JPMC, but not WMI's assets
FDIC held WMI's wrongfully taken assets off-record (and out of BK)
BK has to close
WMI's assets will be returned to the WMILT as only successor of the estate

Again, I do not claim this "theory" is true, but that is my interpretation of the "theory", and IF the assets are WMI's assets, then WMB bondholder claims cannot be paid with WMI's assets/money, NEVER NEVER NEVER

So I have to say again:

Junior and senior bonds not trading higher at the moment is not a proof that the FDIC does not hold WMI assets (not WMB assets) off the record IMO

No matter if there are $100 mln. or $20 bln., the WMB bondholder will not see a dime of them because they did not belong to WMB, only the parent company WMI!