Replies to post #696486 on Mr Cooper Group Inc (COOP)

[juicyjuice10002]

Do you feel it is important for FDIC to win the LIBOR lawsuits to be able to pay WAMU shareholders?
If the FDIC does not win, will there be recovery for WAMU shareholders anyway?
Is it important for LIBOR lawsuits to end or settle before the amount of recovery can be determined?
Thanks in advance.

[lodas]

Ron......WAMU was seized by the OTC, and placed into receivership with the FDIC with a 16 billion dollar hole in the balance sheet, according to Califano's testimony before the bankruptcy court...this was sworn testimony.....now, when the Receiver took over, ALL ASSETS OF WAMU WERE SEIZED.....so, any money coming from LIBOR settlements would not accrue to any shareholders recovery...simply because the FDIC would seize it as just another adjunct to WAMU's assets...besides, the LIBOR cases will not bring that much in relief to WAMU's 16 billion dollar hole in the balance sheet...this LIBOR "stuff" is like "looking in the rear view mirror" anyway.... read the chapter 11 closing... classes 19, and 22 are impaired... the FDIC states no recovery is expected for shareholders... their words, not mine... Lodas