Mr Cooper Group Inc fka COOP

[LuckyMe77]

http://www.kccllc.net/documents/0812229/0812229091214000000000008.pdf
Page 557


Comments from this site: http://www.charlierose.com/view/interview/10886#frame_top

"Page 443 onward is a must read, I urge anyone reading this thread to take a gander, starts off with ...

"JP Morgan takes the valuable assests of Washington Mutual and destroys the property rights of shareholders and contract rights of debt holders"

Question, are these the actions of a patriotic American? I should say not. Dimon belongs in jail right next to Madoff for the destruction of families and lives caused by his criminal activity associated with the theft of Washington Mutual. He lied to Congress, he lied to the American people and he's lying to his shareholders. Paul Krugman is spot on, we're doomed."

Or this guy is doomed:



FYI:

Don’t bank on Chase
Dear Mr. Berko: I recently deposited a $19,525 Wells Fargo check in Chase Bank, which used to be Washington Mutual and where I had my checking account for nine years. The teller told me that they were putting a 14-day hold on the Wells Fargo check. I never had this problem at Washington Mutual. Well, I needed $11,000 from this check in seven days, but the teller said no funds for 14 days because it takes that long for Chase to process that check and collect the money. I talked with the branch manager, and I was given the same story: it takes 14 days to process the check, but Chase could lend me the money until the Wells Fargo check clears. I told the manager that this was not acceptable. The manager got real huffy with me and told me that I could close my account and move it to another bank. I called my lawyer, who said that Chase sets the rules and that I have no alternative. How can Chase get away with this? Is this fair? Am I the only one who has complained about this? Now I’m so mad that I’m going to sell my 150 shares of JPMorgan Chase that I bought early last year at $23 on your recommendation. I would like to have your response to this unfair practice. - G.R., Punta Gorda, Fla.

Dear G.R.: First of all, I did not recommend JPMorgan Chase at $23, but I wish I had. And second of all, don’t for a Sioux City second believe it takes JPMorgan Chase (JPM - $42) 14 days to clear a Wells Fargo check. Chase clears that check overnight. The teller may not know it, but the branch manager knows checks clear electronically, and in the time it takes an electron to circle an atom, that $19,525 is credited to Chase’s master account.

Consider the following: Have you ever written a Chase check to someone on Tuesday, had it deposited with Wells Fargo on Wednesday and then had Chase on Thursday tell you that there are insufficient funds in your account? Then - pow! - it dings you with a $40 overdraft fee. Frankly, that Chase manager is a bleeding liar and is paid to tell you that lie. His branch places a hold on that Wells Fargo check, earning 14 days of interest on your $19,525 deposit. Now multiply your incident by tens of thousands of daily delayed deposits, and that becomes many tens of millions of dollars of interest income for Chase each year. But when Kraft or McDonald’s deposits $100 million in a JPMorgan Chase checking account, those funds clear a little slower than the speed of light.

Chase and other banks get away with this because tens of thousands of schnooks like you are too timid to bite a biscuit and take corrective action. Chase knows this and doesn’t give a “hoot in Hoboken” what you think. It knows that most depositors are powerless to complain or react. However, there are some excellent smaller banks in Punta Gorda that dearly want your business and won’t treat you with such cold contempt. So, I suggest that you (and others who don’t care for Chase’s tactics) take your money and run.

Read the complete story here: http://djcoregon.com/news/2010/03/16/dont-bank-on-chase/


A comment from this site:
http://www.independent.co.uk/news/business/comment/stephen-foley-from-hero-to-zero-dimon-has-a-bad-week-1869652.html
JPMorgan admits that the FDIC took over a solvent bank in one of the latest court documents...

I'm enclosing a few more documents filed through the BK court in regards to a declaration of Thomas M. Blake (http://www.crai.com/ProfessionalStaff/listingdetails.aspx?id=1276 ).

The declaration can be found in 103-4.pdf at http://www.mediafire.com/?sharekey=3b830df9f3d0e6fce7c82ed4b8f0c380aff12395630f22f3ce018c8114394287
Quoting:
12. Based on my review to date, there is no indication that the OTS performed a solvency analysis consistent with the test for insolvency specified in the Bankruptcy Code. There is no indication that the OTS assessed the fair sale-able value of the assets of WMB (or WMI). Nor is there an indication that OTS compared the fair sale-able value of the assets of WMB (or WMI) to the total amount of either company’s respective liabilities. There is no indication that the OTS performed a comprehensive cash flow analysis of WMB (or WMI). Instead, the OTS found that “WMB met the well-capitalized standards through the date of receivership.”8 Thus, without a thorough analysis of the assets, liabilities and capital of WMI and WMB, it is not possible to come to a reliable conclusion concerning the financial solvency of either entity, whether on a consolidated or stand-alone basis.


Here is another document that says as of August 14, 2008:
"We propose to decapitalize WMBfsb by returning $20 billion of capital to its parent. The $20 billion will include the master note of approximately $7 billion, proceeds from $3.5 billion of Discount Notes and cash generated through additional wholesale deposits and advances from FHLB Seattle. We propose the payment of at least $10 billion by September 30, 2008 and the remaining $10 billion through December 2009."

"The net balance sheet of WMBfsb will be approximately $34 billion to $36 billion after Project Fillmore. The leverage ratio will decrease to 25% from 62%. A well-capitalized institution requires an 8% or higher leverage ratio."

Read reference page 45 of DOCUMENT 103-1.pdf from here:
http://www.mediafire.com/?sharekey=3b830df9f3d0e6fce7c82ed4b8f0c380aff12395630f22f3ce018c8114394287