Mr Cooper Group Inc (COOP)

[fsshon]

Very Good Desp...
I agree wholeheartedly with what you said in this post.

Weil would never have brought suit against JPM in regards to the cash in the accounts, if the cash did not exist. I feel the cash is part of the original TPG injection and is traceable and will ruled upon as WMI's. There is 1 snafu in this and it is all about the "time frame of deposit" If the judge believes the monies were in the accounts before Sept 24th at close of business, the monies will be returned to the rightful owner. WMI will be given back the deposits in the accounts because, by law they have to be treated as depositors as part of the FDIC receivership agreement that JPM signed and agreed to abide by. If the money was transferred from WMB into WMI account after Sept 24th close of business, then we have an interesting fight on our hands, that will be drug out through the court system. All of this will be in her opinion on why she made the ruling she did, because it is definitely going to set a precedent that lawyers will use as "case law" in future cases. The FDIC's co-mingling is a "delay tactic" that will only serve JPM's interest and protect their butts.. Interest on 4Bil is quite a bit...
The FDIC will do what they can to delay this trial and try to help themselves out of the "big hole" they have dug and Weil is slowly filling up with water.. waiting for the FDIC to float to the top (JPM settlement) or drown (suit in front of Jury). Bair has publicly acknowledged that the FDIC is not setup to take down large banks or their holding companies. In other words "SHE KNOWS THEY SCREWED UP!"

Desp said...There's adequate proof to show the wire transfers and lets assume it was a wire transfer, Weil would have a wire transfer trace of the fund movements. If you've ever used Western Union or MoneyGram or even wire transfered to deposit into you stock account you will notice there is a Reference ID, Pin Number and Time and Date of Transfer. The killer is when the money was received and there is an acceptance of the funds transfer which provides a confirmation number and Time Stamp.