Mr Cooper Group Inc (COOP)

[Sculelos]

First time I ever recall it happening. The 100 Billion is 80 Billion worth of bond debt claims and 20 Billion worth of taxes I believe.

The bond debt was issued by Wamu Banks, not WMI so therefore they are not responsible, and the taxes should be written off due to the huge loss WMI took when the FDIC seized their banks.

It's also interesting to note that even if WAMU banks resumes paying the bonds that they don't have to pay them all until 2041 so I don't think it would hurt JPM all that much for WAMU banks to resume paying the debt that should have transferred with the banks in the first place.

The taxes should be wrote off due to NOLS and the Common equity.