Mr Cooper Group Inc (COOP)

[W3Research]

WAMUQ: Very Interesting Yahoo Post! ...

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_W/threadview?m=tm&bn=86316&tid=283356&mid=283356&tof=7&rt=1&frt=2&off=1

Deposits never touched by Receivership.

38 minutes ago

Yep, it as said in court by the lawyer for the creditors. It was posted by several WMI longs and I posted about it in threads repeatedly. Here it is again on page 17,18 of DEBTORS' OBJECTION TO MOTION OF THE FEDERAL DEPOSIT INSURANCE CORPORATION, AS RECEIVER FOR WASHINGTON MUTUAL BANK, FOR AN ORDER MODIFYING THE AUTOMATIC STAY.

Have a read, WMI states it again for the slow-witted FDIC team and it bears repeating for the slow-witted bashers infesting this board who have not been able to follow the ownership issues of the deposits:

"The FDIC contemplates invoking Section 9.5 not just with respect to the Deposits formerly held at WMB, but with respect to the Deposits formerly held at WMB fsb, in an account number ending in 4234 (the "fsb Account"). This is not surprising as per the account statement received from JPMC as of October 14,2009, the fsb Account contains $3,674,809,737. This represents approximately 85% of the Deposits. Thus, the FDIC chooses to ignore that such funds were not assumed pursuant to the P&A Agreement and were never touched by WMB's receivership, but were assumed by separate merger with JPMC."

The FDIC has no basis for a claim against the bulk of the deposits because THEY WERE NEVER IN THE RECEIVERSHIP!