Mr Cooper Group Inc (COOP)

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scrivenerserror, this is truly one outstanding post that includes facts, links plus all one needs know except when the MASSIVE RETURNS start for our beloved Escrow Shares/Markers. Thank you for your continued support. Keep this post as it will come in very handy as we go forward. Take care and keep up the GREAT work!

Some great links follow.

http://s.wsj.net/public/resources/documents/WSJ-WAMU-Responsive-e-mails092810.pdf
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Dr. A.

http://www.pro-prosperity.com/UnconstitutionalityOfShortsellingAndPrivateMarketClearing.html


http://www.kccllc.net/documents/0812229/0812229100615000000000011.pdf


http://www.kccllc.net/documents/0812229/0812229100603000000000011.pdf

http://www.kccllc.net/documents/0812229/0812229100415000000000132.pdf



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Doreen Logan

http://www.scribd.com/doc/66287502/Washington-Mutual-WMI-Appendix-to-the-Brief-in-Support-of-the-Motion-of-Plaintiffs-for-Summary-Judgment-Affidavit-of-Doreen-Logan


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Bonderman Resigns WaMu Board

https://www.pehub.com/2008/12/26328/
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Email from JPM Executive Tim Main

http://www.ariva.de/tim_morgan_jpmorgan_a283928

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The Work

December 16, 2009 1:57 PM
Remember WaMu?
Posted by Zach Lowe

We had almost forgotten about Washington Mutual, other than remembering it as one of the casualties of those crazy days of last fall, when JPMorgan Chase acquired $1.9 billion in WaMu assets in a Sept. 2008 auction supervised by the Federal Deposit Insurance Corporation.

Shame on us. Washington Mutual's Chapter 11 case in Delaware is providing a ton of work for a pile of Am Law 100 firms, and that work promises to get more interesting after WaMu filed a motion Monday asking a federal court to compel wide-ranging discovery related to the JPMorgan acquisition, according to Reuters (via The New York Times).

In the filing, the attorneys for WaMu's estate (a Quinn, Emanuel, Urquhart, Oliver & Hedges team led by Peter Calamari) asked a federal judge to order JPMorgan, the FDIC, and nearly a dozen other parties, including Goldman Sachs and various rating agencies, to turn over internal e-mails and other documents linked to JPMorgan's long dance with WaMu. Washington Mutual and its attorneys argue that JPMorgan essentially used inside information to rig the bidding process for WaMu in its favor and lower the sales price. In one June 2008 e-mail exchange cited in the filing, JPMorgan CEO Jamie Dimon allegedly discouraged a rival bidder (Banco Santader) by claiming WaMu's potential losses were higher than known estimates, the filing states. The filing claims JPMorgan "engaged in sham negotiations" with WaMu to gain confidential information about the bank; "misused and publicly leaked" that information to various parties--including the FDIC and ratings agencies--to secure WaMu's assets "at a 'fire sale' price"; and "misused access to government regulators to acquire confidential information" about the FDIC's plan to place WaMu in receivership before the asset sale, the filing states.

A team from Sullivan & Cromwell (headed by firm chair H. Rodgin Cohen, a man with well-known access to top federal regulators) advised JPMorgan during the deal negotiations. The filing says that JPMorgan's connections to regulators may have given the firm "advance notice" of the FDIC's plans to seize the bank, knowledge JPMorgan allegedly used to "obstruct Washington Mutual's efforts to sell itself in a fair bidding process," the filing says. The filing also includes a late September e-mail exchange--which occurred a few days before the FDIC's move to seize the bank--in which JP Morgan's general counsel, Dan Cooney, informed FDIC deputy director James Wigand that WaMu officials were reluctant to turn over internal bank data to JPMorgan higher-ups. In his reply, Wigand indicates the FDIC may be able to smooth the process.

Lawyers from S&C, which is also representing JPMorgan in the WaMu bankruptcy litigation, either didn't return calls or declined to comment. (Partners Bruce Clark and Robert Sacks are leading the S&C litigation team.) A source close to the bank tells us JPMorgan did nothing wrong in the deal talks, and that Quinn and WaMu are cherry-picking communications to try and make their case.

Interestingly, those internal JPMorgan emails do not mention or include Cohen or anyone at S&C, making it difficult to tell how much Cohen and the firm were involved in the negotiations throughout the early and middle of 2008.

DLA Piper is advising the FDIC in the matter. John Clarke, Jr., one of the lead partners on the matter for DLA, did not immediately respond to a request seeking comment. Pepper Hamilton is representing the creditors committee in the Chapter 11 case, and Wilmer Cutler Pickering Hale and Dorr is advising a separate committee of WaMu bondholders, court records show.
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