Mr Cooper Group Inc (COOP)

[StockBomber11]

WAMUQ has not claimed in court that the seizure (by the OTS) was
wrong, although it certainly was. WAMUQ is just asking for fair and reasonable compensation for what was taken from them as a result of the seizure, as the Fifth Amendment requires.

Governments take private property away from citizens every day in the United States through 'eminent domain' for public use for schools, roads, and other public works...but they have to pay for it.

The FDIC was appointed by the OTS to be the receiver of WaMu bank which made the FDIC responsible for managing the company's assets in a way that would most effectively pay back creditors. Instead of shouldering this responsibility, the FDIC turned around and sold the company to JPM for an ridiculously small amount of money in a weird auction process conducted in the middle of the night.

WAMUQ wants to have a court review the entire transaction and obtain the amount of money as compensation that they would have received if the FDIC had done a straight liquidation of the WaMu assets.

If the FDIC can show that the amount of money they received from JPM was a fair and reasonable compensation, they will have no problem in court and the case will be over quickly.

If they cannot show that, then the court will attempt to compensate WAMUQ for the damages they have suffered at the hands of the FDIC and award them an amount of money based on those damages.

GO WAMU >>>>>>>>>>>>>>>>>>>>>>>>>>>