Mr Cooper Group Inc (COOP)

[Chiron]

As it stands right now, we don't know what the deal any class will get. However, preferreds are ahead of commons in regard to payout. Meaning that for commons to see any spill over preferreds must be paid full face value or take a haircut so commons can get something. The EC members own preferreds, I could see a 20% cut or so off face but not much more than that. And as I stated on the PQ board I would give up 40% of face value for commons to get something! Commons deserve a piece of the pie as well.

If a scenario happens where commons get $8 or better, then yes its a better deal than preferreds at full face. But for that deal to happen, preferreds will be at full face, and I hardly think that KQ at $25 and PQ at $1000 is 'holding a bag', lol.

If it is, I will glady hold my multi-million dollar bag.

Again, we don't know what will happen Friday. Based on Rosen's hatred of equity, it wouldn't surprise me to hear him say all classes are wiped out. Of course he can say whatever he wants.