Mr Cooper Group Inc (COOP)

[hotmeat]

WMI the parent was not under FDIC rules hence it could not be seized.

The result was that WMI was able to raise $7B-$8B which was paid to CREDITORS!!!

If the FDIC had gotten control of WMI they would have used that cash to pay off their WMB Notes debt.

That's why they wanted to seize WMI, to avoid prolonged litigation with the Debtors/EC and gain control of the Parent's substantial assets.