Replies to post #404594 on Mr Cooper Group Inc (COOP)

[investorhub123]

according to this....looks like Loan losses of roughly $30 billion.

http://www.nytimes.com/2008/09/26/business/26wamu.html?pagewanted=all&_r=0

Federal regulators had been trying to broker a deal for Washington Mutual because a takeover by the F.D.I.C. would have dealt a crushing blow to the federal government’s deposit insurance fund. The fund, which stood at $45.2 billion at the end of June, has been severely depleted after suffering a loss from the sudden collapse of IndyMac Bank. Analysts say that a failure of Washington Mutual would have cost the fund as much as $30 billion or more.

[AZCowboy]

... BK, We Agree on Many Issues ...

1st; .. Thank you for your response' .. I believe we agree on the basic outline of the issues at hand, ... etc;

However, I also believe, you and I begin to separate with two major issues ...

One, is that I am convinced through numerous documents filed and readings (please excuse me, however, the research is extensive and mostly presented on a different MB) ... is that in an effort to maintain the public continuity' (which would have been procedurally correct) JPMorgan was given the servicing rights only to the WMI Loan File and also for the same reasoning, in a position to purchase the Visa File' ... the take over of the branches, etc etc ... that all makes sense' (again, right or wrong not coming into the conversation')

Two, is that I firmly believe, now, that the financial crisis within the US has dissipated a bit' ... is that "R" will do the right thing and distribute back to the estate' ...

I am sure you and I could have a lively conversation in person'

AZ

[fsshon]

That balance sheet is a joke. Deposits are only liabilities if Depositor's withdraw them. JPM did everything they could to write-down the true value of WMB assets, so it looked like the deal was just OK, when we all know it was a major windfall for JPM and their shareholders. They made 30B in the first Quarter off the WMI assets, the "allegedly" stole with the help of the FDIC.

Like I said, I can put values on a sheet, but the real value was never disputed. WMB may have had loan losses, that were hurting the banks, but they had that under control..Their problem was handling the well-thought out and conceived perpetual bank-run that killed the depositors confidence in a 100 plus year-old bank. What many will not talk about is

50% of the money withdrawn from the bank was WMI taking their own funds (4.2 Billion) out of WMBfsb to re-capitalize WMB on their own (without FDIC approval) and the FED wanting their 4 Billion out of WMB. Bair seized WMB on a Thursday, because she caught wind of a re-capitalization plan coming in on Friday. She had to act or JPM was not going to get "all the assets" of WMI for "pennies on the dollar." Many believe they intentionally caused the financial markets to falter, just so they could get their prize.

Cheers
Blue

[BBANBOB]

IT's called ORCHESTRATED ,just say it like it is pard , andf that ORCHESTRATION probably include the 10 BANKS JPMC had lined up to aide in the PURCHASE of WAMU.
Now when you look at it that way it also falls under they definition of COLLUSION/CONSPIRACY to DEFRAUD.
Which would imho make this a FREAKIN RICO CASE ,so 10-30 may not be out of line really