Mr Cooper Group Inc (COOP)

[tcr7309]

This is the number that fdick was willing to accept. They had no idea at the time how valuable the assets were. Maybe not recently, but as late as a couple of years ago, some were saying jpm got screwed for taking over the wamu bank because of the liabilities, of course we know that to be false but at the panic time of Sept. 08, fdick did not know nor did many others. JPM played hardball, fdick had the right to sell wamu for whatever and jpm stole it.

Have you ever gotten a great deal on something and held your ground knowing it was a fantastic deal. At the time, jpm probably knew they got a great deal but fdick did not know as much. There were no other bidders, maybe because it was rigged but so be it, there were no other legit bidders. Citi submitted a higher bid but the bid was not accepted. I think it was for around 4 billion, if I remember correctly.

You guys want to sit back and say, look at the assets now, not look at the distress wamu was in at the time.

Believe me, I know wamu was strong but no one cares and thus jpm won and wamu shareholders lost. There will be no other jpm payments and I very much doubt any holding company assets are coming back. It's not the way these deals happen.

all imo