Mr Cooper Group Inc (COOP)

[Rumble]

No, I do not believe that WMI will sell to JPM via a share swap. WMI is lining up to gather assets and cash. I believe they will emerge from Bankruptcy with much cash and assets as a viable entity, with their common shares in tact. They want damages and fair market value for what was taken. They want the unlawfully seized items returned, i.e. assets of the holding company.

Justice will prevail, either through a long drawn out court battle, or settlement with JPM and/or FDIC. All of us longs, believe and/or hope it will be the settlement for many reasons, see prior posts for this discussion. Either way, when they have assets, there will still be plenty of opportunity to buy distressed assets, i.e. other banks in trouble.

One of the reasons I believe this to be the case is TPG, has already bought a distressed bank (and is not in the banking business). Also, TPG is an investment organization, and has the most voting interest in WMI. I believe they will contribute the bank to WMI for an even larger share, and then leverage the holdings for future additional substantial gains. Also of note, WMI changed their legal name (added a comma) and have lined up a new trading symbol wm, for post settlement purposes.

Timing is a huge unknown, but I strongly believe this is how it will play out.

We have a great legal team working for us! Pay day is coming!

GO WAMU!!!!!!