Mr Cooper Group Inc (COOP)

[Rumble]

Fish,

Great post. I've always had a lot of confidence as investor because TPG owns a huge block of stock, and with that a lot of power in this play. That hasn't changed through out all of this.

I've never been quite able to put my finger on exactly why TPG made this move out of preferreds into commons. I certainly understand the basic premise to facilitate a sale of WMB, but that only makes minimal sense on the surface. I've thought it might have had something to do with the Texas case, and I think it is a factor, but TPG could have still been involved even if they owned preferreds in my opinion.

Looking at the big picture of what happens after they removed the big liability of WMB and the potential losses from mortages and all they could have had a huge pile of cash to invest via WMBfsb and WMI. TPG afterall is in the investment business.

This is also why I believe at the end, WMI common stock will still be around and is looking to get back as much cash and other assets, including WMBfsb as possible. There will be a huge return and future gains possible once they are back in the money.

I believe the next couple of weeks could be very interest! Keep up the good work Fish!

I also liked the comments about why all the accounting and law firms. This is a pretty impressive team, and they are working well past getting the $4B back. There are many other assets and legal moves yet to be made, or in the process of being made and coming to fruition very soon. I hope!

Go WAMU and Team!