Mr Cooper Group Inc fka COOP

[lodas]

many posters on the message board seems to think that WAMU was able to use borrowed money to make billions of MBS (20.7 billion), then sell them off to GSE, then get their money back, and after suffering a Receivership, because of bad management, is then entitled to get their 20.7 billion dollars back and give it to shareholders, as heirs to the estate after chapter 11 restructuring!!!!... yea, good luck with that reasoning....do you think the FDIC is stupid?...... Lodas

IMO.... if there was 20 billion dollars that WMI placed into WAMU shortly before the Receivership, it was probably the money WMI got by selling the MBS to the GSE (government sponsored entities)...and then put a claim against WAMU for the lost money... it is my opinion that the FDIC is holding the 20 billion dollars until all claims associated with the receivership are settled...