Replies to post #94990 on Mr Cooper Group Inc (COOP)

[rramirez82]

Fish, great analogy but don't forget about the trademark infringement claims -- while they repossessed your TV entertainment center and took all of your belongings, they also decided to use your email accounts and passport to book an all-expense paid vacation to Hawaii with the profitable proceeds they had left over after selling your stuff.

[Gmenfan]

Good scenerio. However shouldn't that include the loan company admitting that the dishwasher and stove really do belong to you but they going to keep it until directed otherwise?

[Desperado90]

Thats certainly how I feel too. Its cheaper for the government to resolve this issue by just saying well we need to re-evaluate the Purchase Agreement. JPM would cry foul but they have no where to hide.

JPM would cry to the government that it took WAMU's toxic assets portfolio and was helping to reduce systemic risk like they did for Bear Stearns. The government can in that way help pay JPM part of the toxic assets value.

There are several settlement options. JPM has the bank but they also want the FDIC to cough up part of the settlement and I have a feeling WMI Lawyers are requesting something significant.

GLTY. At least we can agree on WAMU.

[KJ]

Great analogy.... :)

[dmceng]

fsshon

When I first became really aware of this fiasco back in Oct/08, one of the reasons I was intrigued about the case was that being that I was very experienced in finance and business especially at the corporate level I wondered how in the world the FDIC in all of their wisdom could have taken over a holding company of this magnitude and determined that the worth of everything was a measly $2B in round numbers. Even to a layperson with some common sense it was comical. The FDICdid so many things wrong in this takeover, there is no recourse in the long run for anyway out but to reimburse the injured party for the goods that were taken illegally by the FDIC. And there are a $hitpot full of goods!!

Take Care
David