Replies to post #724030 on Mr Cooper Group Inc (COOP)

[Boris the Spider]

Many including hold2wm think over 100B.

I can't imagine the hedgies and FDIC, and the judge, accepting much less. JPM and BBA would be wise to settle rather than expose themselves in depositions. So I expect we hear something in the next few weeks. Don't forget that the FDIC is broke now and they get 10%, so they will hold out for as much as possible.

[goodietime]

"Rarely does this type of suit get more than three to five percent, so I doubled the higher amount to ten percent of the 400B. I just do not agree with Alice's much higher amount but would love to see it. "

Maybe a higher payout is due to the tremendous amount they profited....

From Perplexity AI :

Q:I heard the Banks made potentially TRILLIONS from the LIBOR rigging?

Answer
The estimate of potentially trillions in extra profit made by banks due to the LIBOR rigging scandal may stem from the vast scale of financial products affected by the manipulation, which underpins over $300 trillion worth of loans worldwide3
. However, the actual fines and penalties imposed on banks for their involvement in the scandal totaled over $9 billion, with individual banks like Barclays settling for hundreds of millions in fines3
4
. The U.S. Federal Deposit Insurance Corporation (FDIC) is suing seven European banks, including Barclays, over losses suffered by failed U.S. institutions due to LIBOR manipulation, with potential claims running into hundreds of millions of dollars2
. The FDIC's lawsuit seeks up to $400 billion in damages related to the manipulation of the LIBOR rate, highlighting the significant impact on financial institutions and the need for accountability in addressing fraudulent conduct1
2
.