Mr Cooper Group Inc (COOP)

[Wamook]

As the name implies....

Since the beginning '08 I've been watching a bond insurer... AMBAC ABK. They wrote the insurance policies on all those loan securitizations. And the loan mills supposedly stuffed all the mortgage backed securities with bad loans....

There's a big SH)T storm out there that's blowing in BACs direction at the moment over the Countrywide loan mill. BAC is looking at fending off 50 billion dollars worth of litigation. The insurance companies want to force the banks to take back the loan mill loans.

How does this info affect WAMU??

Well,.. I can't figure out how.. If WAMU was such a bad bank and shameless loan mill.. Why isn't JPM catching any heat in this big SH)T storm? Why isn't WAMU mentioned? The insurance companies don't seem to have the same beef over the WAMU paper!!! But JPM calls it junk! Trashes the old banks loan making practices at every press release.

How are they getting their whites so white??

Will they stay that way in the coming months??

Will the underlying issue of the forclosure moratorium affect JPM, WAMU, and US??