Mr Cooper Group Inc fka COOP

[JimsZ]

Well.. isn't this the reason that banks pay FDIC insurance?? To protect from losses? Do you think Wamu paid less than IndyMac in insurance? Indymac cost the FEDS $9 million out of that fund, but they also still have the bank to be able to sell!


Yes, they should have been scrutinized, they should have been notified that "you have to change things" but to sell $307 billion in assets for $1.9 billion is crazy. $186 million in deposits at Wamu! This is absolutely crazy to sell all this for only $1.9 billion which goes completely to the FDIC.


If you were "late" 30 days on your $50k BMW would you consider it theft for someone to "sieze it" and take about $200 for it? Think about it before you answer