Mr Cooper Group Inc (COOP)

[jerrylev]

Re: But if way more than face comes back, preferred will be extremely excited to have received a lot more than face value and common will be pissed they had to share the excess with preferred.

I am afraid that this might be the case. I don't think that it is way more than face but let say 20-30B and the HF tricked common shareholders to still take the majority of the Estate despite letting them in but the small guys never bother to read the fine print.