Mr Cooper Group Inc (COOP)

[Chiron]

I like commons chances for $2 - $4 as has been my feeling all along. Otherwise I wouldn't own any. However, my post was more to show how the snake Rosen will try to avoid paying commons anything.

Commons are the important part of equity. Preferreds, as stated in the POR, can simply be paid at a percentage of face and cancelled. Adios. No effect on the new equity.

Commons must vanish in order for their plan to create new equity to sell at $25 a share to come to fruition. And if commons are to be paid, well then that proves there is no need for new equity - just start back with the current shares.

In that case no one gets the windfall, which is why the WMI Noteholders were freaking out in court yesterday. There is PLENTY to pay them at 100%. But they are very very greedy, and want to make money from the new equity.

If the commons stay intact in the final Chapter 11 plan, then their plan for new equity is toast. Which is their big fear with the shareholders meeting. Walrath, imo, still doesn't see the bigger plan here by the debtors. But she is getting there.

Commons are the most important class. While preferreds do get paid first, paying them at 99% face value is just a skin job to the debtors because then they can wipe commons and start over with a new equity class and make that money back ten-fold.