Mr Cooper Group Inc (COOP)

[Boris the Spider]

Libor settlement process.

So this is how it works IMO. JPM and BBA will offer a settlement to the FDIC with Judge Buckwald presiding. If the FDIC feels the offer is adequate they will request to the judge that it goes through. If she feels it is fair and reasonable she will approve it quickly. Because the amount will likely be in excess of 100B the final disbursement will take several weeks to filter down to the litigants. That's where bop's theory may be correct. Say for instance the settlement takes 2 months to complete. Our brokers could offer loans to us against that distribution. So for those who choose not to wait and need funds sooner, they can take out a loan. The brokers know the loan is guaranteed so it would be an easy process and loans would likely take a matter of days. I like the loan idea for tax reasons. Let our money sit in our IRAs.

Let's see how this plays out. Nothing is a sure thing, but I do like our chances. I refuse to believe that JPM wants to take this to court, risk criminal penalties, and much larger punitive damages.