Mr Cooper Group Inc (COOP)

[ron_66271]

WMB Covered WMBfsb, And WMBfsb Covered WMB.

That was the Corporate Structure between the Banks.

When WMB had the ~$16 Billion orchestrated run on the Bank, WMBfsb had ~$40 Billion in cash to backstop WMB’s TIER One rating of 7.8 (from JPM 2008 10K. JPM was 3.5 [yes I did read it]).
TIER One rating of 8.5 before the bank run.


Wrap-up Insurance!?
Derivatives are the Insurance Policy.
2008 was the Derivative Market Meltdown. $83 Trillion in Notables, JPM wrote ~57% of the market.
~$13 Trillion was housing (FRB).
The Numbers;
For discussion, figure 20% for JPM exposure to RMBS.
$13T x .57 x .20 = 1.482 Trillion

Remember JPM 1.4 Trillion in Euro Notes?


The Facts are still the Facts.



Ron