Mr Cooper Group Inc (COOP)

[Stup]

I was on yahoo anwsers and ran across this: My only question is when will this happen???


Best Answer - Chosen by Voters
WAMUQ.PK is the new symbol for Wamu Inc. once it was delisted from the NYSE. The Q means the company has filed for bankruptcy protection. In a filling with the SEC yesterday the company claimed $32 billion in assets (5 billion in cash, and 27 billion in shares of Wamu Bank (now a separate entity from Wamu Inc, and in receivership of the FDIC. Wamu inc. is the only share holder in Wamu bank) Wamu inc. also claimed $8 billion in debt, leaving $24 billion in positive assets.

Now here's the interesting part Wamu inc. has to mark it's assets at market value. If JP Morgan is able to sell Wamu Bank's loan portfolio to the Federal Government in the bailout deal, they must have to return cash to Wamu Bank and subsequintly Wamu inc. If the $24 billion in positive assets is returned to Wamu inc. share holders @ 1.7 billion shares that would mean $14.11 in cash per share.
1 week ago
Source(s):
www.fdic.gov
www.sec.gov