Mr Cooper Group Inc fka COOP

[ron_66271]

Sorry John. But Not Quite Right.

WMI knows what they owned!

WMI sued the FDIC for $307.2 Billion, $7.9-$8 Billion came back to WMI from the Exchange Event and the Turnover.

That is where the FDIC’s $299 Billion came from.
Please don’t subtract $40 Billion, or the Bank Deposits for WMB and it’s Assets!


WMI $375 Billion.
$375-$299(WMB)-$32= $44 Billion unaccounted for assets.
Yes, non-banking assets.

Now the Deposits of the Bank are the Definition of a Bank.

No there was never a full run-on-the-bank for all of the deposits that would constitute subtracting your number.
Only the run of $16 Billion that was all covered with cash from WMBfsb.
The deposit base was transferred to JPM. JPM needs to pay for the deposit base because that is the definition of the Bank.
Hence; no cost to the FDIC!


I agree with the FDIC.
-> $299 Billion for WMB and it’s Assets <-.

And the FDIC agrees with me!



Ron