Mr Cooper Group Inc (COOP)

[SamuraiProgrammer]

OK... Let me explain this ONE MORE TIME!!

There WERE assets remote from the bankruptcy. They were discussed in court and THJMW disallowed detail descriptions of them. For her to have done that, they MUST have existed.

WMIH now COOP (under whatever structure) was NOT given those assets by the BK court because the BK court HAD NO JURISDICTION over them.

These assets are somewhere.

These assets (IMO) already belong to the (former) shareholders of WMI so there is no need for a 'binding' contract.

However, there are two equivalents to binding contracts in play.
1) FDIC is MANDATED by their charter to maximize shareholder value.
2) The TRUSTEE is MANDATED by their Fiduciary Obligations to preserve and properly distribute those assets. When (no matter how long) the FDIC closes the receivership of WMB, any payment for assets will add to the assets managed by the trustee. IMO, that is why those assets have not been distributed... i.e. they are waiting for the closure of the receivership.

You (purposefully, IMO) conflate and confuse the different classes of assets... The LT had nothing to do with the BK Remote Assets. The FDIC tried to get them included via the big FIRREA argument (remember that?) and failed.

If you are not doing it purposefully, you are too IGNORANT to have a valid opinion.

YES I believe there will be money at some point
NO I don't believe it will be 600B.

And, while I am at it, you and Pick keep crowing about how AZ was wrong on everything he said. Remember this : AZ said the LT would never pay a dime to escrow holders - He was certainly right about that. He understood that our payments would come either from BK remote assets or the FDIC or JPM.

Now, go back to lurking... IMO very few people on this board give a flying f--- against a rolling doughnut about what you think.

At the very least go back to encouraging people who don't understand the risks to play options.

To Others.... please reply and quote my post in the reply because I believe this will be disappeared. The truth hurts some agendas.