Mr Cooper Group Inc (COOP)

[Evintos]

The new provisions of the Act....are the actions of the FDIC in the 2008 seizure of WMI assets and WMI/WMB co-mingled assets made legal?

Is this so even... rules at that time?

Yes, under the guise protecting "the stability of the financial system of the United States." The amount of oversight given to the FDIC is insane. Cue conspiracy theories, some of which are probably true.

"carte blance" - official title: "TITLE II—ORDERLY LIQUIDATION AUTHORITY"

(1) PURPOSE.—In order to prevent or mitigate risks to the financial stability of the United States that could arise from the material financial distress or failure, or ongoing activi-ties, of large, interconnected financial institutions, the Board of Governors shall, on its own or pursuant to recommendations by the Council under section 115, establish prudential stand-ards for nonbank financial companies supervised by the Board of Governors and bank holding companies with total consoli-dated assets equal to or greater than $50,000,000,000 that—

https://www.congress.gov/111/plaws/publ203/PLAW-111publ203.pdf