Mr Cooper Group Inc (COOP)

[diamondguru-one]

ever wounder HOW "TD" got their NUMBERS from to offer for the 250 banks???Hmmmmm...yahhh think maybe they have an "ASSET LIST" or "Audit" info ?????Hmmm

Tic TOC...Sorry for the people that sold !!!!

News: How TD almost took over WaMu 2-Nov-10 04:18 pm
TD offered $30 bill for EAST COAST network and deposits alone.

Was it the Canucks they feared more than the Chinese?

Fishman almost clinched the deal.

Key excerpt--
"And a day after Mr. Fishman asked regulators time to implement his plans, the government seized WaMu and quickly sold its parts to J.P. Morgan, just about the only bank at the time with the wherewithal to buy them."

det

How the Canadians almost took over WaMu in NY
By Aaron Elstein—Crains New York
November 2, 2010 3:25 PM
---------------------------------
In the chaos of September 2008, J.P. Morgan Chase Chief Executive Jamie Dimon was able to transform his banking powerhouse into a truly nationwide institution by acquiring the failed Washington Mutual and its 2,220 branches for less than $2 billion.

Less well-known is how close J.P. Morgan came to losing WaMu to the Canadians.

Shortly before succumbing to the biggest bank failure in history, WaMu CEO Alan Fishman, a veteran New York banker, tried to make a deal with the parent of Toronto-Dominion Bank. According to the terms, TD would have acquired WaMu's entire East Coast branch network and its deposits for about $30 billion. WaMu had 237 branches in New York, about the same in Florida, and 86 in New Jersey. Acquiring all of them would have been big deal for TD, which earlier in 2008 had acquired New Jersey-based Commerce Bancorp and its 460 branches for $8.5 billion. It's fun to imagine the screams that would have been heard from more xenophobic commentators about a Canadian banking invasion.

Of course, the deal never came to pass. The Canadians, polite and deliberate as ever, were only "moderately interested," in acquiring WaMu's east coast branches, according to a report Monday by the examiner in the WaMu bankruptcy case. And a day after Mr. Fishman asked regulators time to implement his plans, the government seized WaMu and quickly sold its parts to J.P. Morgan, just about the only bank at the time with the wherewithal to buy them.

http://mycrains.crainsnewyork.com/in_the_markets/2010/11/how-the-canadians-almost-took-over-wamu-in-ny.php