Mr Cooper Group Inc fka COOP

[Chiron]

I did speak with my attorney yesterday. His interpretation was that Weil has advised WMI to not list all the assets so that they can stay in Chapter 11 BK. Once they get the 4.4 Billion back, then they will start getting other assets back and the A > L for the reorg plan. He has done BK work for other companies and said Wamu is playing this perfectly.

Don't forget, the people behind WMI also own commmon and preferred shares. Probably have friends and family that do as well.

The reason why the A < L right now is simply to keep WMI under BK protection and in Walrath's courtroom. Something that I think has been proven by the recent threats by FDIC.

1.3 Billion in the grand scheme of things is nothing Johnny. My lawyer laughed at that and said they probably have another 5, 6 billion stashed away or in undisputable subs, etc.

He likened it to when a person claims BK. They have credit cards, etc they can't pay. So they stay in BK protection so that there house and cars don't get taken away. Once they emerge he said its uncanny how they suddenly have many other hidden assets; jewlery, gold, expensive furniture, etc etc...

I think the reorg plan must surprise you Johnny.