Mr Cooper Group Inc (COOP)

[ILVMNY]

The question is, who is responsible for the Cayman shares? That's a whopping $4 billion. That's what Rosen is referring to when he says $7 billion dollars to cover before the commons can recover. That's why WAMKQ and WAMPQ will probably recover and the commons will see very little, because of the Cayman shares.

Everyone talks about the dirt on JPM and no one is talking about the dirt on WMI. There's a whole lot of dirt on them as well, and I do not see any damages being awarded as if to reward them for the worst business practices ever seen. It just won't happen. A jury wouldn't even award/reward WMI after hearing all the dirt on them. Damages is solely at the jury's discretion. In fact, they'll be angry at WMI when they hear everything.

WMI will settle and receive about $7b which will cover the preferreds. IMHO.