Mr Cooper Group Inc (COOP)

[lodas]

here is an obvious, but simple fact.....the FDIC-R took WAMU into receivership for a mere 16 billion dollar run on the bank deposits......if, WMI was flush with hundreds of billions in liquid assets, THEN WHY DID THEY NOT DEFEND AGAINST THE FDIC IN LETTING THEM TAKE WAMU IN THE FIRST PLACE?????????........here is the real reason:... WAMU, and WMI did not have 16 billion dollars in assets...why?..... the reason is clear in the letter Alan Fischman wrote to the FDIC to forestall receivership of WAMU banks... Fishman stated he was prepared to borrow money from the Feds, AND CONVERT THE PREFERREDS DEBT TO EQUITY SO AS TO RAISE ...THE TIER 1 requirements to bring them into balance....Alan said nothing to the effect that WMI had billions upon billions in Safe Harbor, or off balance sheets assets.... there was not enough assets Fishman could produce to wipe out the 16 billion dollar run on the bank.... the FDIC knew this, and Jamie knew this from Project West... thats why he got Goldman to short it to oblivion.... simply put, Fishman had no resources to cover the 16 billion dollar run on the WAMU banks..... Lodas