Replies to post #122368 on Mr Cooper Group Inc fka COOP

[fsshon]

Jamie Dimon as CEO of JP Morgan Chase can not and will not be able to advance into public service i.e. Sec of Treasury, until the WAMU mess is null and void. He has to make right with the bondholders, noteholders and shareholders of WAMU if he is to have a "lick of a chance" of getting confirmed by the Senate. IMO

They are propping him up as the savior of Wall Street and the economy, it makes me sick, because it is not true. However the media is brandishing the JPM brand and the WAMU brand is dead. I always said "putting the bankers behind the ropes" as if to show you are superior to them was a bad idea and Killinger never should have allowed such an arrogant move. Now to move forward for Dimon, he must make good on the WAMU purchase, one of the best ways of doing that is taking all the money WMI will get from Taxes and the SJ (if it gets that far) and swapping stock. Pay off the prefs, re-negotiate and bring all bonds and notes current, using the WMI money and last but not least, Announcing that the acquisition of WMB could not properly and logistically be complete until the parent company that had entered BK was legally able to be merged into JPM. Game, Set and Match!
Global Settlement is the only answer to this mess!
~Fish~

[The Yogi]

I agree. “What really matters and that is where the center of the legal struggle is if the seizure was of a solvent bank or not, if it was fraudulent or not.”
And did WAMU received “fair liquidation value” for its’ assets acquired by JPM?. Remember that a primary purpose of the Bankruptcy court is to insure equity/fairness and insure that WAMU receives “fair liquidation value” for its’ assets acquired by JPM.