Mr Cooper Group Inc (COOP)

[Donotunderstand]

it is ours !!

the big time buyers of distressed PIERS -- buying for say 50 cents or 90 cents ..... set it up so they would get PAR (did not expect the reduction) and then set it up so those holding 5 million dollars of PIERS would get the markers we have

they lost

all PIERS got pro rata share of the discounted price

markers they wanted went to equity

Question

Do I think their desire to have markers for whatever was left was a move to get richer and richest ?

NOPE

It was to be a hoped for cherry on top ---- and it is still that - a hoped for cherry on the top.

Those mega players were going for the 25X return by getting paid on the PIERS --- and as (per their argument) the lowest debt there was - and to be paid only after all the rest of debt - they would also get the markers

they got the sundae and all whipped cream (as they bought below a buck) but we got the HOPED for cherry on top