Replies to post #501759 on Mr Cooper Group Inc fka COOP

[hotmeat]

The problem I have with your assertion is that as of 31/12/2007 WMI had $18.9B in Retained Earnings as stated in the 10K dated 29/02/2008. Are you inferring that between 31/12/2007 and 26/09/2008, WMI went from having a +$18.9B surplus to a -$20B deficit ($38.9B aggregate loss)??? I'm a bit confused by that claim.

[hotmeat]

Refer to pg 104 of WMI's last 10K (post# 501576) re Stockholder's Equity and the +$18B Retained Earnings.




Quote..."Shareholder's Equity is listed on a company's balance sheet and measures the company's net worth. A company's Shareholder's Equity is calculated by subtracting a company's total liabilities from its total assets, which are also listed on a company's balance sheet."



Based on the above description and the last WMI 10K filing in early 2008, for WMI to go from a +$18B Retained Earnings surplus to a -$20B Retained Earnings deficit,...$20-$30B+ in assets would have had to be removed from WMI's books (possession), without compensation and/or without removing any of the accompanying liabilities, thus creating such a deficit.

All IMHO..........