Mr Cooper Group Inc (COOP)

[Walker]

I have a scenario that could possibly happen here and if one is patient would certainly bring in incredible returns. No one knows for sure how many assets WAMUQ the holding company has - but we do know of the 18 billion in mortgage back securities, we do know of the 4.4 billion in cash - but this is Washington Mutual we are talking about - they have other divisions and investments. JPM got the bank, but they also had an insurance division, a commercial real estate division and real estate holdings and most likely other investments as well.

Once the new attorneys and the courts sort through these assets there could be A LOT more assets then previously disclosed. WAMUQ the holding company could come out of this with billions in assets left over, they could hire new management and directors to lead the company moving forwards and this company and stock could sky rocket into the multiple $$$'s.

Here is one example posted last night by something right and shows that it can happen - and WAMUQ has potentially much more in assets:


Chapter 11 Bankruptcy is a reorganization of a financially distressed corporation to achieve an economically viable business entity. The company's common shares continue to trade & have value... and can appreciate in value.

I personally have experienced the Chapter 11 Bankruptcy of Smith International where the stock dropped to pennies while trading on the Pinksheets. Once SII emerged from bankruptcy about 2 years later, the value of my original 500 shares have grown tremendously (although recently more than halved in value due to the present gloomy economy). My 500 shares were split-out TWICE and I now have 2000 shares currently valued @ $33.31 a share... an astronomical increase in value from the few pennies a share my 500 shares were worth much of the time during bankruptcy.

THAT is a very likely senario for WAMUQ shareholders who are wise enough to hold on to their shares for the long term, as WAMU Holding Company has a LOT MORE assets going into Chapter 11 Bankruptcy than Smith International did! Also, it can appreciate much faster in the case of a buyout, which is rumored to possibly be in discussion. Want BIG money??? HOLD!!! (imo based on pass experience)

Reference Example of SII Bankruptcy (scroll down linked page):

After filing for protection under Chapter 11 of the U.S. Bankruptcy Code in early 1986, and then emerging out of bankruptcy reorganized and restructured in late 1987, Smith spent several years consolidating its businesses before embarking on a ten-year spree of acquisitions in late 1993 that resulted in a remarkable increase in revenues from $220.7 million to $3.17 billion.

http://www.answers.com/topic/smith-international-inc