Replies to post #744113 on Mr Cooper Group Inc fka COOP

[sunshinevibrations]

As is always the case, WaMu's assets had to be used to cover the liabilities. That's why there's nothing left, as the bank and the other parties have repeatedly said.

That's why is so ludicrous when believers list the assets but conveniently overlook the liabilities.

[ron_66271]

The MBS Were Insured by CDS to Cover Losses.

JPM was responsible for about 57% of the CDS that insured the securities.


The MBS were over funded by a factor of about 2X.

That is why there is no litigation regarding the Put-backs because the put-backs were already there.

As I stated according to the FDIC;
WMB securitized $2 Trillion in RMBS, of which $500 Billion was sold to F&F.”
WMB Now had $500 Billion to reinvest just from F&F.
Cash Cow!!!
Maybe that’s why WMIIC filed first?!

WMI/WMB didn’t have $2 Trillion in Bonds/Preferred offerings in the market then.
Both the WMB EURO Notes and the Series R are backed up by 2X the stated offerings value.

So very few people understand the Derivative Market Meltdown of 2008.
The CDS Derivative contract writer’s couldn’t cover.

JPM/BoA still has to cover their obligations.



Ron