Replies to post #628521 on Mr Cooper Group Inc (COOP)

[hotmeat]

The ~$14B in WMB Bonds the FDIC owes are UNSECURED BONDS....fact!!!

Do you know what Unsecured means?....it means there were no assets/ collateral supporting the Bonds.

They were paid based on the financial performance of the Bank, ie WMB.

Essentially they were the same as the Preferred Equity issued by WMI, Wampq + Wamkq, in not being directly supported by assets.

Read the Prospectus............