Mr Cooper Group Inc fka COOP

[JohnnyWinter]

I suggest you look at these two posts regarding the value of WMIs subs.

Wind Energy Interests

For the record, when WMIIC (WMI Investment Corp) sold their investment in its wind-energy-joint-venture, they LOST MONEY.

Look at the December MOR under Note 2 Investments in Subsidiaries, and you will see the following.

"In December 2008, WMI recorded significant losses from its subsidiaries. These losses were primarily due to two factors.

- WMI Investment incurred losses from the sale of its remaining investment securities ($87.4 million) and experienced a loss attributable to its investment in its wind-energy joint-venture ($16.3 million) "......

http://www.kccllc.net/documents/0812229/0812229090202000000000007.pdf

So, this is another example of the recorded book value actually being higher than the market value, which resulted in a loss.


Some think otherwise, but I feel that when WMI sells their interest in the wind farms (with the "help" of Goldman)they will also lose money. The bottom line is that WMI's interest in the wind farms are not $500 million and are certainly not $1 billion like some claim.

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