Mr Cooper Group Inc (COOP)

[lodas]

distro.... 86 billion dollars returning?.... what are you smoking?.... WAMU went into receivership for 16 billion bank run by depositors and short sellers... you are implying that WAMU, and WMI held over 5 times what the value of the receivership numbers were.. 86/16= 5.3...........no way the FDIC could have stepped in and seized WAMU's Banks,and WMI would not have had to declare chapter 11....Fishmans letter to Sheila before the receivership bears this out...he was going to convert some Debt instruments to equity, and raise funds by borrowing from the Fed to forestall the impending receivership...ask yourself.?.... why did WMI declare chapter 11 if they had these liquid assets?...here is the problem....Long Beach Mortgage engaged in UNSECURED sub prime lending, which would have very little resale value in a fire sale... even JPM got 600 million dollars allowed for put backs from soured MBS in the GSA negotiations...Lodas