In my opinion COOP will be issuing new shares to original WAMU equity holders who are beneficiaries of the mortgage portfolio and other bankruptcy remote assets controlled by WMI when they merge with WMI. It will happen after LiIBOR settlement and closure of receivership. FDIC may however still close the receivership before LIBOR issue is settled if it thinks not much coming from LIBOR settlement. Demon has very few days left as recent EPSTEIN settlement will force JPM board to get rid of him and his criminal enterprise.