Mr Cooper Group Inc fka COOP

[fsshon]

What I meant on this, was JPM bought banks through receivership, they did not buy the Holding Company like Wells did. When Wells bought Wachovia it was trading at around $1 PPS. Citi was trying to steal it, but Wells paid 7X's more than what it was trading for. If Wachovia was worth $35 PPS and there was 1 billion O/S of Wachovia then that means Wells paid 7 Billion for banks and Ordinary Loss of $35 PPS- $1 PPS X 7 = $7 = $28 PPS X # O/S in Holding Company minus actual hard assets of holding company. Most likely Wells took an Ordinary Loss deduction of conservative $20 PPS = 20 Billion write off...

We could find this out if someone could pull Wells 4Q 2008 Financial Statement that denotes the write-off. Then we will have an idea of how a company (any company) would be able to use WMIH Ordinary Loss of 26 Billion for their balance sheet. Any company, IRS did not restrict the Ord Loss to a Financial Company... Not like they do with NOL's...