Mr Cooper Group Inc (COOP)

[Bizreader]

Let's go over what we have here with WAMU;

two parts, bank and holding company

bank in JPM hands

WM Inc is in Ch 11 BK, did that for protection.

Debate about price of bank and legitimacy of take over

No argument about the 4.4 billion on deposit

No argument about the valuation of WM Inc

No big problems among the lawyers motions

Bank was solvent or close to it at take over time

Recent 70 billion raised by JPM

No issues holding up the 4th quarter report

Large run at the end of last week.

No out and out negative stories in the news about JPM and / or WM

Progress has been made in other bank take-overs recently

Bashers are getting thin and tired

Large institutions have piled on, even recently

There are references to long term management contracts and
strong legal teams in play to explore all options.

Easy way out is for JPM to simply make a reasonable offer after "due process" and keep this all friendly and warm while everyone calms down. It was a rough 4th quarter and everyone is very tired. No one meant any harm! They all thought Paulson knew what he was doing!

For all WM Inc people this is looking very good.

This could go Either Way;


Up or Really UP! IMHO of course.

J in Seattle