Tuesday, May 07, 2019 5:17:26 PM
How did WMIH qualify for any credit with KKR, etc, without having some collateral. I think you're right, and that retail investors legacy financial interests have been held hostage solely for the 'Accredited Investors' (colorable insiders) that are invested/involved here with WMI/WMI/COOP.
Accredited Investors have had the last 7 years to receive nearly all their principal and interest. They didn't have to put up a dime to grow COOP.
We retail investors are the Mule they rode and ride currently,.........our earnings......our legacy interests. They leverage our interests - for their benefit - at no risk to themselves.
They got paid, big hammer got paid, and mom and pops are still holding the bag.
I'd think they'll just keep extending the LT to infinity to utilize any such blocking mechanisms as necessary, until we stop them or our legacy interests are no longer needed as collateral ...
I can think of a few places to file complaints. Time for these leeches to bounce.
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