Mr Cooper Group Inc (COOP)

[Bizreader]

No wonder I'm crazy....

Anyway, the Seeking Alpha article didn't make the distinction between the co. in Ch 11; the holding company, and the company that was "sold" to JPM.

Maybe someone with a better grasp of this might add something to cover this.

http://www.thedeal.com/dealscape/2008/09/jp_morgan_buys_washington_mutu.php This article states the deal as of September 25th in no uncertain terms.

There are a few issues that, once settled, could increase the pps and thus benefit the stock holders.

The pps might go up because the settlement converts shares in WAMU into JPM shares at a much higher price than the WAMU price now.

A simple metaphor:

The holding company is like a large gorilla standing around with a base ball bat staring at the umpire and the pitcher while they figure out if the last pitch was a ball or strike.
This gorilla thinks it was a ball but the pitcher is arguing that it was a strike! The gorilla wins because he has the bat and he's a gorilla so he get's to do what ever he wants.
If the umpire calls a strike he will be pummelled and if the pitcher puts up too much of a fuss he will be pummelled so it's probably going to be called a ball.