Replies to post #648683 on Mr Cooper Group Inc (COOP)

[BBANBOB]

MIGHT have been dreaming

What was happening at the time was that WMI had gotten outside investors to capitalize the bank and we asked for a little time.


WMB three week before seizure said THEY WERE WITHIN 3 weeks of returning 10 bill of the 22 bill, WMI wanted their MONEY BACK JUST IN CASE!!!!!!!

I doubt you'll find confirmation of the 4 mill short of 4 bill being in JPMC

SOrry

[Boris the Spider]

Many contend that $4B was given to JPM as part of the deal.

That's nonsense. The money was not WMB property. It was WMI money. So why would that go to JPM?

[Civil War General]

I believe it was $16 billion and they were completing the paperwork when it was seized.

[Jestiron]

Did the OTS Summary sheet say Insolvent or Illiquid?

B I G difference....

Jest

PS... there was another theory which suggested that the funds were being moved because WAMU was designated as a thrift. That designation had specific requirements (a max limit %) regarding how much cash was held as tier one.