Replies to post #118781 on Mr Cooper Group Inc (COOP)

[eyeownu]

CIT is nothing like WAMU. Their are plenty of companies in chapter 11 BK to make a comparsion like that were commons will stay intact.

[Dragynn]

Linda, the statement does not say common shares have been canceled. They have not. "wiped out" is the term they use, which many may erroneously take to mean "canceled".

"Wiped out" is what has already occurred here at Wamu, a severe devaluation. The re-structuring of CIT actually calls for more new stock to be issued to unsecured debtholders. CITGQ.PK

Nobody is canceling any stock here, or even considering it.