Mr Cooper Group Inc (COOP)

[Large Green]

Exigent Circumstance-Just who was the savior?

Being a pre/post WaMu owner of securities, I had very positive thoughts about TPG/Bonderman’s group early on, however that changed as time emerged and now I almost have come full circle. I always had very bad vibes about our Judge the day Joseph McMahon came into the court room with “exigent circumstances” and wanted an equity committee appointed due to how the Judge snapped at him during their first court room discussion. I knew then there was something wrong with this Judge, because I listened while McMahon was conversing with the Judge when she snapped at him about who was/is in charge. Of course, the Judge had to let McMahon have his way or it would have become way to obvious early on where this Judge stood if she was going to go “toe to toe” against the U.S Trustee about potential Estate recovery.

http://www.ciardilaw.com/joseph-mcmahon-jr.asp

As time went on, I changed my mind about TPG/Bonderman as it appeared he received payment in another way as we never heard a word from him and then in the fall of 2009 Bonderman resigned from the WaMu board. I used to think if he had this many commons, there would surely be a recovery of some sort. Then it looked like he sold us out but when nobody could find where his group sold all of these shares, nor could anybody prove he still had his shares which was very confusing. I want to give Joyce and others all the credit for the equity committee, but I find it hard to really believe we got the U.S. Trustee to act for lowly retail shareholders. I really want to believe that, but I feel there was some much larger-more important entity or figure that achieved the “exigent circumstances” and to me it would have to be somebody of TPG/Bonderman’s Texas connections or something similar in power and high profile with connections.

Here is a post from Bbanbob on Y discussing TPG/Bonderman equity.

Yes and or with their Common Stock 228,571,428 13.4% one would not need many more like that to carry a quorum in a vote once this becomes NEWCO to take it private either and pretty much at whatever PPS they cared to afix to the vote.

OH and do NOT FORGET this is OLD and COLD votes too.

If the 27 hedgies under JPMC have just bought 2% each or 34,000,000 or 1.7 mill $$$ (CHUMP CHANGE) they then control any votes moving forward in newco.

Hope for the best but always plan for the worst.

Leopards and spots.

I am still here , so that in and of itself should suggest that I still hold some hope,but it also requires ME to be able to get my arms around SNH's liking us enough EHEHEHE to let us come along for the ride with them.............

Are you there yet?


Now the multibillion dollar question, is TPG/Bonderman our true allie (s) or did they short the common shares early on and then change when equity came into the picture? We may find out soon if Bonderman or one of his cronies is put on NEWCO BOD and of course who they nominate for NEWCO C.E.O. I feel they are waiting to announce these positions as this announcement could have driven up equity prices considerably, thus bringing much unwanted attention and messing with their NEWCO share formula. I think we are in for positive and exciting times for NEWCO during 2012 and beyond!