Mr Cooper Group Inc (COOP)

[hotmeat]

Read the Globic Agreement and the P&AA...what the FDIC stupidly, and IMO corruptly did was allow JPM to provide them with a analysis of WMB's assets, which they obviously portrayed as being ""toxic"". This is how they spirited away with WMB's value that could have reached Equity. IMO there will be no "Final Payment" as ron keeps claiming, the FDIC basically rolled over and gifted WMB's value to JPM.




ARTICLE VIII of P&AA

"The Assuming Bank, as soon as practical after Bank Closing, in accordance with the best information then available, shall provide to the Receiver a Proforma Statement of Condition indicating all assets and liabilities of the Failed Bank as shown on the Failed Ban's books and reflecting which assets and liabilities are passing to the Assuming Ban and which assets and liabilities are to be retained by the Receiver. In addition, the Assuming Ban is to provide to the Receiver, in a standard data request as defined by the Receiver, an electronic database of all loans, deposits, and subsidiaries and other business combinations owned by the Failed Bank as of Bank Closing. See Schedule 3.1 a."