Replies to post #660558 on Mr Cooper Group Inc (COOP)

[Bill48]

Now why’s this important to us on this board??? Whether escrow holders or coop investors?

[t1215s]

redisnieurt “Robert Williams was the Treasurer. He was in charge of the Balance Sheets of WMI and all subsidiaries including WMB. Doreen Logan was the person who executed all of the balance sheet strategies. “

The role of a CFO is similar to a treasurer or controller because they are responsible for managing the finance and accounting divisions

Not a question , just felt you left ole Tom out

Stay healthy people Ts

[Dmceng4]

Red

If Casey was CFO of WAMU the bank, was he also the CFO of WMI the holding company? Please show the corporate structure if both at the time of seizure. Thanks!

[JusticeWillWin]

You are a former WMB employee, right? Later a JPMC employee? Still now?

...
Tom Casey, the CFO of WaMu at the time of the seizure was an employee of WMI and NOT WMB. So, he wasn't "seized and sold" like the rest of us.
...

So do you know something about the ~$29 billion in equity on the WMB-fsb balance sheet below?



And here the summary:


Also WMB which was the parent of WMB-fsb had still ~$26 billion (if I remember correctly, there was the WMB trial balance sheet here some years ago) on the balance sheet (probably from the value in WMB-fsb) and WMI which was the parent of WMB also filed CH11 with $32 billion and $8 billion liabilities = $24 billion equity (probably because of the value in WMB).

So were the books completely wrong, or why could JPMC "buy" $26 billion from WMB's equity with only $1.9 billion. Or did the value "shrink" by $24 billion in only some weeks (bank run, withdrawn deposits).

That's why there were ~$40 billion "asset related equity adjustmens" on the FDIC inception balance sheet? These $40 billion are comprised of the $13.x billion WMB notes (junior and senior) and the $26.x billion equity IMO.

Was this simply a "write down"? Or are the billions somewhere else?!? What do you think? Thanks in advance!