Mr Cooper Group Inc fka COOP

[ID Supermoney]

Here is an interesting summation/DD:

Which is VERY CLOSELY similar to WAMU!!!!

Posted by: trop Date: Monday, June 07, 2010 1:08:25 AM
In reply to: Arnold25764 who wrote msg# 3808 Post # of 3857

In a nutshell, Colonial BancGroup (CBCGQ) claims the FDIC illegally turned over it's assets to BB&T and as a result has taken legal action against the FDIC. (see link below)

http://www.americanbanker.com/syndication/colonial-parent-sues-fdic-over-assets-1015598-1.html

Also, with the change in 'Net Operating Loss' rules (NOL), they can now carry back losses 5 years versus 2 years. Speculation has the estimated NOL to upwards of +$300 million with the 5 year carry back.

They could stand a chance at recouping some major money depending on the outcome.



ID