Mr Cooper Group Inc fka COOP

[I Like Bottom Fishing]

Hi what do you make of this news my friend, Imo I think wamuq will win In the end and It's share holders because the bailout package bill and the bankruptcy court will help out In the final tally imo, jmho!

WAMUQ News DJ Washington Mutual Final Debt Recovery Rate Belo...

Thursday, October 23, 2008 2:21 PM

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News for 'WAMUQ' - (DJ Washington Mutual Final Debt Recovery Rate Below Expected)

NEW YORK (Dow Jones)--Sellers of credit protection on the default of Washington Mutual Inc. (WAMUQ) will have to pay 43 cents on the dollar, according to the final results of an auction to set the value of the failed bank's debt.

The final price for the senior debt at Thursday's auction was set at 57 cents on the dollar. That's below the 63.625-cent midpoint gleaned from bids early in the day.

Administrators Creditex and Markit published the results of the auction on their Web site, www.creditfixings.com

, at 2:00 p.m. EDT.

International Swaps and Derivatives Association, an industry group, reported 519 parties signed up to settle contracts under the terms of this auction, including large international firms, troubled U.S. insurance giant American International Group (AIG) and, in an interesting twist, WaMu's new owner, JP Morgan Chase (JPM).

-By Emily Barrett, Dow Jones Newswires; 201-938-2248; [e-mail]

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=oxUE9cWkb7%2Br3Ccb87Xjhw%3D%3D

. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

October 23, 2008 14:20 ET (18:20 GMT)

Copyright (c) 2008 Dow Jones & Company, Inc.- - 02 20 PM EDT 10-23-08

Source: DJ Broad Tape


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