Mr Cooper Group Inc (COOP)

[jerrylev]

Re: We're one month away from the 10yr anniversary of the WMI bankruptcy, isn't it about time we return to reality!!!

LOL LOL! We should go back to reality 6 years ago when POR 7 was signed and it clearly said what those who signed release will get and how it is divided.

Worse off in this document, the FDIC simply bragged about how many banks it took in receivership and the amount of assets without incurring any losses. So for instance in some banks, the FDIC has to pay the depositors and creditors and the shareholders get nothing, but the FDIC still claim credit that it took billions in receivership.

In the case of WAMU, the FDIC took in 299B in receivership and potentially sell 259B of assets to JPM for 1.9B while retaining 40B of assets to pay various claimants and the rest will go to shareholders who signed release.

Not because the FDIC took something in receivership means that the FDIC has no obligation to anyone but shareholders. That is the most ridiculous theory.