Mr Cooper Group Inc (COOP)

[daulton]

Heres Bopfans thoughts on the expunged claims :

When WMI filed its last 10-Q in June '08 it had a legal obligation to correctly state its liabilities. It stated about $8B in debt at that time and it is untenable that its liabilities would increase five (5) fold in three months.

Simply stated, the inflated claims, whether $105B or $39B are not valid as against WMI, and everyone who has ever worked on a major Chapter 11 case knows that claims are inflated -- sometimes grossly inflated -- until vetted. The amount that is 'allowed' in WMI's case will be very close to $8B, and the fact that the claims are still currently inflated is nothing to fret about as they'll be wiped out as easily as those in the orders Judge Walrath signed yesterday.



Sorry if re-post , i cant keep up with the board today ;P