Mr Cooper Group Inc (COOP)

[~6979~]

...LOL...too funny...glad to give you your first boardmark...GL..

Posted by: OrnateSilk Date: Saturday, October 04, 2008 12:47:53 AM
In reply to: zardiw who wrote msg# 11364 Post # of 11790

"They don't need to sue. Not yet. They have a motion before the Judge to assume control of their accounts. No order on that yet, but hey, this is a straight deposit in a bank. I don't see why they don't have access to it. Every other depositor has access.

But JPM is fighting tooth and nail to hang on to that 5B. They are CROOKS..........z "


They may be crooks but they are fighting to hold onto it because they can't cover the withdrawal, thus the 48 hours notice of intent to withdraw. They will be scramblinbg to come up with the cash.

Irony of ironies would be WM demanding the $5B and JPM being unable to produce...creating a liquidity issue for JPM....and with a lowering of the proverbial eyelashes by WM: So sorry. We can buy you out for $1.9B. *chuckles*



...another good post by you...

Posted by: OrnateSilk Date: Thursday, October 02, 2008 7:15:13 AM
In reply to: dono_doya who wrote msg# 6857 Post # of 11790

This is my story also.

The government seems to like to seize stocks I'm picking these days. First, FRE and then WM (btw FRE bids started moving on Etrade at 6:15 a.m. EST; bid is $1.86 and ask is $2.15 - nothing noting on WAMUQ yet).

I lost $23k between these two stocks. I was trying to turn my refinance savings into something I could actually make happen. Sold my vette to get cash to invest and now Etrade is tying it up! But I did manage to get 25,000 shares earlier today, lowering my price per share to $.725 and thanks to todays gain have a bid in for some more with today's profits.

My boyfriend thinks I'm crazy to keep investing in a company that has cost me so much. I said: "watch."

I blinked when I heard of the WM seizure. And for $1.9B? I laughed. I watched my account go to a loss of -100% and could imagine the executives of JPM dancing in the streets. Then I got to thinking...wait a minute.....

WM is not done, folks. Maybe they foresaw what happened to FRE and FNM and AIG and LEH and ML....and decided to outsmart everyone. A firesale for one of the largest thrifts in the country? Selling over 300B in assets for 1.9B? Come on.....

I'm not convinced this is a merger but I am convinced that the FILING of bankruptcy is a front. Filing for bankruptcy is not the same as BEING bankrupt. Who hopes to get a favorable bankruptcy ruling when assets so outweigh liabilities? Would you be granted bankruptcy status and protection if you had 5k debt but 80k in assets? Not only no, but hell no!

I could be wrong--and comments on this would be welcome--but I see this as a move by WM to protest the fire sale. They don't get bankruptcy status then how bad off were they? What rights did the FDIC have to seize the company? "WE" have 25B or so in assets remaining AFTER JPM took the cream assets. Give us our company back.

I see this "Q" stock going to $4. Why? Its the amount WM needs it to be to put it back on the NYSE. Shares get out up to $4 a share again...they withdraw their bankruptcy pleadings....they can once again trade on the NYSE. Quick way to raise capital to fight seizure?????

makes one go hmmmmmmmmmmmmmmmmmmmmmmmmm.