Replies to post #718246 on Mr Cooper Group Inc (COOP)

[Civil War General]

Thanks.
This is why they seized WMB the next day, it was about to cover the outflows.
No complex derivatives, but you can bet that JPM had Credit Default Swaps with AIG against WAMU and that was another part of their scheme. AIG had to get bailed out by the Taxpayers. More Corporate welfare for the Insider’s Club.

Also, “significant portion of outflow was of uninsured balances, of which only $10 Billion remain.”

That was Project West in action.

[Bizreader]

I'm not sure how relevant this is but it occurred to me while I was reading that the foundational nature of this Purchase and Assumption Agreement has been the primary public facing operating agreement on which the bank reorganization moved forward. HOWEVER, ALL PARTIES TO THIS AGREEMENT HAD, AND STILL HAVE, MAJOR LEGAL BEEFS WITH IT.

From what I gathered I think it was breached very early on because there were questions that JPMorgan Chase wanted to sue about.

There were suits and counter suits having nothing to do with LIBOR at all. We are still arguing about it in the courts and on the boards. I just think that that's an important aspect of the reality because people say, read the paperwork, well we're still arguing about it.

[newflow]

"- all without a penny of government assistance."