Mr Cooper Group Inc (COOP)

[mordicai]

I don't buy into the notion that fdic funding must be approved beforehand to reach the settlement . If the holding company convinces the fdic to settle the damage claim for wrongfully seizing the bank and liquidating the bank assets at bargain basement prices, then I would think you will need specific congressional approval of a private bill to pay the settlement. Could be wrong, and I guess it could be hidden somehow in a general funding bill for the fdic to bail out upcoming bank failures...we shall see.

Now as to the fdic paying for the holding company assets..I don't see it happening. We have some speculation that the fdic somehow laid claim to the 4 billion deposit accounts...at least that may be what jpm is alleging in its interpleader count. But if the fdic has no power to take over holding company assets (which has been floated in the press ) then the assets were never transferred to JPM. So the fdic has to tell JPM, the fdic didn't sell that to you, give it back to WMI. If JPM wants those assets , JPM has to pay the consideration for it to the holding company not the fdic.