Mr Cooper Group Inc (COOP)

[JohnnyWinter]

"My bet is and it's been pointed out that the FDIC was getting ticked at the OTS and the cozy relationship they had with Wamu. "


I'd say that your bet is right-on, and although there are still conspiracy theorists that think the FDIC are "the bad guys", the truth is that the OTS was/is completely incompetent, and WaMu should have been seized much earlier. The OTS contends that WaMu was "well-capitalized" up to the receivership, however, the Citi documents, and others like them, show that the "value" of WaMu's reported "assets" were completely inaccurate which was why nobody wanted to touch them (and didn't touch them)outside of receivership.