Mr Cooper Group Inc (COOP)

[uzualsuzpect]

FWIW - bop

People just don't understand what "fair" and "reasonable" meant. Sgt is right: it was an all-inclusive deal, and all in it was NOT enough to pay off the Hs.

Accountants are the most practical of business professionals, and Mike Willingham is an accountant. He and the PJS professionals understand that there is not enough $ to cram down the Hs, hence FJR, disallowance/disgorgement, or cash from outside were necessary in order for preferreds to come into the $.

I do not know if JPM and the FDIC will revise the GSA to include cash, but I do know that the plan as I understand it does NOT put any cash into the waterfall. Accordingly, if JPM and/or the FDIC don't put any $ in, and TPS follows through with its pledge to keep commons out, only preferreds will have an interest in the company, and that interest will be subordinate to the Hs.

My suspicion is that JPM and the FDIC will forfeit some or all of the tax refunds to put preferreds in the money, and since those refunds won't be enough to reach commons TPS will have to be satisfied as well.

People can be angry if they choose, but this has been engineered by the major players and the court, whose opinion made the appeal of the GSA essentially worthless.

The one bright light seems to be JBerg's claim that FDIC-C is on the hook as it has provided no consideration. If this is true, given the $30MM war chest the FDIC will probably offer some settlement. This would be equity's big break, but it may not happen.

Those are the facts, and shareholder hysteria won't change them.

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_W/threadview?m=te&bn=86316&tid=762465&mid=763760&tof=2&frt=2#763760