Mr Cooper Group Inc (COOP): WAMU was a federally chartered bank whic...

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Re: KeyKey post# 723281

Thursday, 02/15/2024 2:23:28 AM

Thursday, February 15, 2024 2:23:28 AM

WAMU was a federally chartered bank which was seized by the FDIC, and Lehman was an Investment company which filed voluntary bankruptcy... The FDIC had no jurisdiction , and legally could not seize Lehman.....The FDIC is still involved in settling actions involved with the receivership, and is holding a 14 billion dollar shortfall on the balance sheet, and has to settle with Bondholders who hold SECURED CLAIMS before UNSECURED CLAIMS can be paid... that is why they stated that there probably would be no payout back to equity holders.....Lodas

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