Mr Cooper Group Inc (COOP)

[stockmarketmadness]

You forgot to include this from BOP:

I am basing my comments -- including my present forecast that commons won't get ANY recovery unless the GSA is modified to include a cash infusion from JPM and/or the FDIC -- on the court's ruling.

When I said commons would see a sizeable recovery I was referring to a settlement or jury verdict resulting from WMI's claims against the FDIC in Judge Collyer's court. In January in her opinion, Judge Walrath attempted to take that avenue away when she approved the GSA. She doesn't want JPM or the FDIC sued; it's that simple.

There is a way around this if JBerg is right. If he's correct, FDIC-C is still on the hook, the FDIC will probably amend the GSA to put in enough $ to get the EC to promise not to sue FDIC-C.

It is my opinion that with the 5/31/11 date having passed the FDIC and JPM will amend the GSA to put in enough $ to cram down the Hs, pay off TPS (I think JPM will assume and re-age these securities), pay off Ks and Ps, and give a recovery to commons, which might be the whole reorganized company. However, if JPM and/or the FDIC don't do this, it is all over for commons.

You can be angry if you choose, but your anger should be directed at the folks who made this possible: the SNs (who I think rejected a settlement offer that would have put preferreds and commons in the $), the court, WGM, et al.

I still think things will work out, but equity is in a very tight place.

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