Replies to post #118715 on Mr Cooper Group Inc (COOP)

[JohnnyWinter]

You misinterpreted my post. I was referring to the shares of WMB, and yes, the shares of WMB are currently worthless and are NOT trading at .13 .


The shares that are trading at .13 are shares that represent a company that used to own a bank, a bank that had creditors, and those creditors of the bank come before the former "owners" of the bank.

[MasterBlastr]

They are worthless just as a $20 bill laying on the ground is worthless until you pick it up. Its the anticipation of that $20 in your posession that gives it value.

[JimsZ]

Agree totally with the statement below. The FDIC had no right to cut out bank bondholders unless they could have proved for FACT that bank Liabilities were far greater than bank Assets and the bank "really did fail"!



Posted by: Dragynn Date: Friday, November 06, 2009 12:57:30 PM
In reply to: JohnnyWinter who wrote msg# 118710 Post # of 118733

Wrong again. The shares are currently being traded at just under 13 cents a share. Calling them worthless is a complete fabrication.

And the repetitious mantra about the creditors coming first is something everyone knows already, it doesn't make a difference, there will be PLENTY of money for everyone.

There is a reason why JPM has been hoarding cash, we saw part of that reason displayed two days ago in letters 3 feet high. And today another lawsuit against JPM filed out in CA.

And just so you know, the "bank" is owned by JP Morgan currently, so any "creditors of the bank", will need to seek their compensation from JPM. Me personally, I own shares in WMI, not the bank.