Mr Cooper Group Inc (COOP)

[pennypincher44]

WAMU HAD BILLIONS OF DOLLARS IN ASSETS.
But as we all know many homeowners defaulted on their home mortgages, pretty much walked away. This put the banks in the negative, however; they didn't sell some of their assets to cover the spread, so they accepted government relief at pretty much 0 percent loans. So tell me, why would they take free money from the government and not sell some of their assets to cover their spread on their default loans?

Wouldn't you accept free money, invest it for 6 months, then pay back the government loan, but still earn interest on the new loans, that's what you call greed. There is a saying, if you get greedy, you will be caught.

On an off topic, why did homeowners walk away? Because our system allowed our gas prices to hit $4 dollars per gallon for months. That is what really hit our pocket book. When we used to spend $100 per month on gas and then it went to $400 dollars per month, that extra $300 dollars payed for bills and covered the mortgage payments, we usually live month by month, but when the system takes an extra $300 dollars from our wallet, we have to outway what is more important, food or mortgage payment?