Replies to post #604950 on Mr Cooper Group Inc (COOP)

[hotmeat]

They are referring to the Libor Rigging litigation against JPM and other banks in the UK. They end by saying that the funds they expect to receive from any such settlement will not likely be enough to reach WMB Subordinate Bonds (Class 17B) or WAMU shareholders. Only WMB Senior Bonds (Class 17A) and Deutsche Bank claims will be paid.

[PickStocks]

Yes, the claims outstanding at the moment are: "LIBOR" claims that could pay off their so call administrative fees. 15+billion....

Quote from FDIC Website: "WAMU, which was the largest failure of an insured depository institution in the history of the FDIC, had $307 billion assets, $188 billion deposits, and over 2,300 branches in fifteen states when it failed. JPMC acquired substantially all of WAMU’s assets from the FDIC, paid about $1.9 billion, and assumed all of the deposits and “substantially all other liabilities” of WAMU. The resolution of WAMU through the P&A Agreement was completed at no cost to the Deposit Insurance Fund."

I guess outside of LIBOR the PA&A was settled along with the 307 billion assets.......March 2012: settlement agreement......

The so called POA has only been extended because the BK was not closed.....Now it has so will the termination of the POA, Jan 10,2020.....

Still FDIC does not have authority over the funds outside of BK.......still looking to receive distributions.....There will not be any notices f when or how.....Look for Federal Registry for WMB transferred or moved to Coop.....Not the cash just the name.....Bk closed dec 20, 2019 and LTI closes on January 10, 2020....It will happen before then..