Replies to post #70169 on Mr Cooper Group Inc (COOP)

[AccipiterQ]

Guess we'll see how much attention it gets, I'm betting not much. You think JPM even wants this to get attention? If it does it's going to force news outlets to mention the firesale of WAMU. No one wants that

[p_chen]

The fraud of WMB, the wrongdoings done by FDIC and the firesale of WMB to JPMC are different things. Don't mix them up.

It's clear that the fraud of WMB is waiting to be proven, but FDIC and JPMC are seen to be deadily colluded. Unless you have solid evidence, Quinn won't fire the shots.

[Lawrence 147]

Several things you are going to have to look at when proving fraud. What is on the contract, is it legal to produce the document. Is it a lawful document? Having had to sell used Chevy’s for a time in my life, I saw some real crap go down, and yes some salesmen do lie and deceive. But this is what it boils down to in the end, he said/ she said. And judges do not like to determine who said what, when there is no record of the conversation and it all boils down to the contract, every time. If the loan or investments were lawfully executed and on paper, there was no fraud. Most of the time a class action lawsuit is only going to make the lawyer rich and the petitioner poorer and more pissed off.
The argument can be used but if not corroborated through confirmed evidence it would open JPM and their lawyers to a liable and slander suite and could persuade the judge that destruction of a business did take place.

[climberprof]

Yes of course it does.
But WMI's cooking the books is not an excuse for JPM's and FDIC's illegal activities that we all know. AIMO.

Best
Climber

[hotmeat]

I look at this logically. If WMI was cooking the books they would be doing this to cover up substantial losses or financial impropriety....correct?
Then if this was the case how could JPM post a $0.30+ EPS based upon their acquisition of WMB, when if not for this "purchase" they would have posted a $0.07 loss.If you are correct, then JPM has also cooked WMB's books.