Replies to post #664731 on Mr Cooper Group Inc (COOP)

[kevins131]

No but Shelia did go to Congress right after her testimony asking for a retroactive law to take bank holding assets and was denied. Put into place on a go forward basis only.

[stoxjock]

Probably you meant to respond to someone else...But nonetheless, what you said is all true...But the main issue was, FDIC never had any authority to 'seize' any Bank Holding company, not at the time WaMu was seized. The law was enacted only after 2008 crisis.

I am not advocating 'for' TBTF BHCs/Banks,by any means... They were the main culprits which deliberately engaged in Brazenly Risky behavior just so that their Traders & Bigwigs could mint 'short-term' Profits like bandits through their trades and the Big Honchos through "Stock Options' by pumping up the PPS of their Stocks.

So, definitely, TBTF banks have to be rigorously 'Stress-tested'' so that Main Street need not fork out money to 'bail them out' ever... But all these things went into effect, After the 2008 Financial collapse had already occurred...And WaMu, which was relatively on a much stronger footing due to its Huge Deposit base was 'taken down' by Sheila Bair/Paulson/JD Cartel so that JPMC could survive BK.

[Dmceng4]

Lodas

We know full well what the bitch was all.about.. It had nothing to do with the integrity of the system as far as holding companies were concerned. You are showing your colors if you are defending her actions.She should be in jail for her corruption with JPMC at al.

[Dmceng4]

Lodas

And please stop putting her on a pedestal.She was a lackey is the despot JD. He knew how incompetent she was. She was simply part of his strategy.