Mr Cooper Group Inc (COOP)

[jpm_sux]

I disagree.

The proposal that was made was simply a shot across the bow. They have to start someplace, especially since they requested a delay, but it was not intended to be the final offer only a starting position.

Of course they are going to slant it as far in their favor as possible. This, they think, gives them the best negotiating position moving forward.

Their fatal mistake, though, is underestimating THJMW's support for the equity shareholders and bold holders who are being slighted by the proposed settlement, and the fact that JPM and the FDIC are not entitled under any circumstances to share in the tax refunds.

Not only is the proposed settlement highly inequitable, it attempts to quash the issues surrounding the illegal seizure of the bank.

I think that in the long run not only will JPM be forced to return an equitable settlement which will more than address the bond holders as well as the preferred and common equity positions. And that subsequent lawsuits will find that JPM and the FDIC conspired to take over a solvent institution in conflict with the law and will ultimately be forced to make Wamu shareholders whole. There is substantial published evidence to make this argument, should DOJ choose to take it on. (Which they may not because of the parties that would be exposed).

Since the bulk of my holdings are in my 401(k) I have no problem waiting for the ultimate results.

I am not naive and understand that our financial and judicial systems are corrupt and may not ultimately deliver justice, but there is a sufficient belief in the process that tells me that in the best case that I will be rewarded well for my efforts and in the worst case I will not have sacrificed a significant amount on this 'wager'.

JPM and the FDIC know that they are in the wrong. THJMW knows that they are in the wrong. We can only hope that the truth prevails and that political pressure does not leave this issue with an undesirable odor in the end.