Mr Cooper Group Inc (COOP)

[bond-007]

That is not what I was implying, I was saying in the normal course of BK P's get paid until they are paid in full and commons get the rest of the plunder, which is not much in most cases, if any. If they are willing to give commons 25% then they knew they would make more than face with the 75/25. Commons would have been paid anyway after P's received face value that is just how it works, so either they knew they were going to make face + or they where just plane incompetent or they knew P's and commons wouldn't get anything anyway.