Mr Cooper Group Inc (COOP)

[dragon52]

The WMI law team is genius

Having Rosen go up and make a lame offer knowing it would stir the hornet's nest is brilliant.

Of course, like in poker when they raise the stakes you don't know if they are bluffing or it they really do have a hand. All until they either call or fold will you either win or lose.

Rosen knew he was going to be the scapegoat but for a good cause; he knew that if he had offered a lame settlement, it would not be accepted by the judge and the EC. The offer was to set up JPM and the FDIC.

With them licking their chops thinking they were going to steal more from WMI again, makes the offer look like they walked into a candy store and took what ever they wanted. Of course, THJMFW will deny the offer stating it is ridiculous and too low considering all the facts and figures that have been collected so far; the EC having been given it's power renewed in the form of intervention granted will obviously object and reject the offer mimicking the judge's ruling; putting JPM and the FDIC in deeper water, since the rejection and or denial would imply that there are more assets than liabilities and they need to redo the offer. Of course the bond holders would reject the offer stating that it isn't a fair one and it should be redone.

But the fact of the matter is, the shots have been fired back at JPM and they realize that the troops are closing in on them.

This is getting to be a good fight...

Brilliant move Weil and company... brilliant.