Mr Cooper Group Inc (COOP)

[WithCatz]

No indication that it would be in excess of $3b to reach past WMB Junior Bonds.

In fact, the trading of WMB JR bonds originally held by institutional "smart money" also belies that same issue. At the trading value of WMB JR's the "smart money" believes little to nothing is going to make it to even those securities, much less back to the WMILT.

(Keep in mind that any settlement with JPM for their many indemnifications comes before everybody else... that's considered an 'administrative cost' and is first in line for any monies/assets at the FDIC)

If you believe that FDIC monies will pay for all administrative costs, indemnifications, and WMB JRs to then reach equity -- you should buy all the WMB Jr's you can as they will get "full before Escrows first penny"

BTW -- That's exactly what AZCowboy did (buy WMB JR Bonds). He owns JRs (as well as Escrows of course)

...Catz