Mr Cooper Group Inc (COOP)

[JusticeWillWin]

And what if we (the believers, including me) were wrong all the years? I still say the logic and DD implies there MUST be something left over. Not in the hundreds of billions, I've never said that, but in the range of $10 to $30 billion which is absolutely reasonable for me.

Rosen said, the "fulcrum securities" were the PIERS, no money left for equity. We didn't want to believe it (including me), it seemed like a plan to slaughter equity and give the reorganized WMI to the hedgies, but from WMI's point of view that could be correct. The FDIC took WMB, WMI's bank and probably did not try to maximize the value of the assets, and gave it to JPMC for only $1.883 billion and JPMC later found out that the assets are more worth than they paid for. Too late and too bad for equity.

The WMI-LT says there is no money. Correct, because JPMC got everything...
The FDIC says there is no money. Correct, because JPMC got everything...

Everything was a big scam!

I still think there is a chance to get more than a few cents for Us (and more than $7 for Ps), but it is more than 10 years since they took WMB and we got NO money up to now, only WMIH shares (now COOP)!

JWW, I don't think we can count much on the FDIC as they just retain enough to pay the bondholders.

However, the trust was liquidating something in the last 7 years and counting money. It just cannot do nothing while charging us. How can the HF who owns the same escrow as us allowed this? At the very least, there are 100M which the court and the trust can give to us if they shut down immediately in 2012.

Anyway, the returned money is not going to be huge, perhaps a few billions, but not hundreds of billions. This is commensurate with the legal fees that were spent, i.e. spent 100M to recover let say 4B. The underwriters cannot ask to be in class 19 to get nothing. But at the same time, it only requires a few billions to escrow to pay the underwrites 72M (or 90M).