Samurai.....it makes sense to me that this is how the whole chapter11 went down with wmih....since it was a chapter 11 restructuring, all equity residuals come under the purview of the company after survival, and all creditors have been paid off.... the WMILT was formed to do just that with only monies allocated to pay off creditors, which they did... the Wmilt was not formed to pay off estate holders, as the estate still comes under control of the corporation... so, Rosen is right... no money for escrow equity holders......so, WMI needs a vehicle to start up business again, gets funding from KKR, buys NSM to get the Safe Harbor assets back to the company they just acquired...how do we know this?... they stated that the assets were greater than present and future liabilities of the company when applying for the bridge loan...shorltly after acquiring NSN, 65 billion in MBS were "boarded" into NSM.. the reason the stock did not take off with that news is because it is not reported on the balance sheet of coop, pending resolution of the receivership and chapter 11...now however, june 30 seems to be some point of demarcation for coop, so a rash of motions are filed in court to stop, or alter the present course of closure..at the present price of about 33 dollars, the market cap of coop is about 3 billion dollars...boarding 65 billion in new MBS would have surely caused the price of the stock to rise dramatically, but it did not as yet.. why? IMO, those SH assets have been right under our nose all this time and sequestered in coop, but not on the books as yet...as AZ Cowboy says... coop is the "tell"..Lodas
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