Mr Cooper Group Inc (COOP)

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JPM has been buying WAMU twice! "Double Jeopardy" *Read*** 27 minutes ago CALIFORNIA (YesMua.com) - Believe it or not, JPM has been buying WAMU twice in the past 2 years! Here is the game they play:

The first time that JPM swallowed WAMU, the giant firm, for only 1.9 billion dollars. This buy mostly benefited for the top guys from JPM + FDIC and some Moles in WAMU side. JPM’s share holders did not benefit at all. We all know about this since that made the history of the US.

The Second time that JMP bought WAMU again when the common stock was 2-15 cents. We have about 1.7 billion outstanding shares, and they tried to pick up as much as they could in the past year. They would end up to 50% position in WAMU common’s stocks and probably preferred stocks also. Now WAMU is asking for 40 billion dollars in damage, and I think they will compromise to settle around 20 billion dollars which is reasonable figure! After paying lawyer’s fees and some short fall face amount money from the preferred stocks, common shares would worth around $10 dollars per share converting to JPM’s stock. The key here is all the big guys (as I mentioned above from JPM, FDIC and Moles…) will once again making a big buck since they now have about 50% position in WAMU’s stocks. I so call it “DOUBLE JEOPARDY”! This move will be necessary since they will clean up their ass, and they will make a lot of money too. The reason that it cannot happen until the end of this month since they have to wait for IRS to release 2.6 billion NOL tax; otherwise they would lose 2.6 billion dollars if the settlement happen before tax returned is in the account. The law is when you get the TARF, you cannot take the NOL (sorry no double jeopardy here).

Finally, I love this country….They can make money in both ways. This time JMP share holders would pay the bill. As always, innocent share holders take the bullets. I am using ”Innocent share holders” here meaning people who sold their shares for JMP at 2-15 cents. Wait and see at the end of this month!!!!

Written By Jimmy Bolsa!