Mr Cooper Group Inc (COOP)

[marayatano]

Wells Fargo bought Wachovia RIGHT after the tax/IRS changed regarding NOL/carry over, etc. Wells offered 15 billion instead of Citi's pitiful 2 billion.

Coincidence that Wells appears out of nowhere? Nope!!!

Yes, Wells is a Creditor too, BUT Wells wants the NOLs. They are valuable especially to Wells since Wells is VERY PROFITABLE and the NOLs will shelter Wells from tax obligations and can most effectively use the credit. The 4.4 billion is a bonus for them, almost like a rebate after purchase.

Since Wells is a CREDITOR, that will be considered a partial payment toward the acquiring of Washington Mutual Holding. Therefore, it will be less out of pocket form Wells since Wells already has a down payment (prepaid via debt owed to Wells) on Wamu Holding.

Once Wamu Holding is acquired by Wells, this will give Wells the authority to go after OTS/FDIC and JMP for damages and likely through the fraudulent conveyance under the US Bankruptcy law. This may entitle Wells to fair value (near fair value) of Wamu especially since JMP was given unfair preference of Wamu assets and was therefore unjustly enriched at the expense of Wamu shareholders and creditors.

The above is an expressed opinion of the poster only.

Unedited for spelling and grammar.