Replies to post #148765 on Mr Cooper Group Inc (COOP)

[intheclouds]

I can see that, good point.

[Franconeli]

Also, it means a media frenzy when it's announced that:

1) Billions of dollars are flowing out of the FDIC again.

2) Those billions having to go out because a private company was directing the FDIC on how to do their job and telling them what bank's to sieze. And, that private company CEO has a direct connection with the White House.


It's a potential political nightmare. The fallout could be huge for the FDIC and Washington. People hate them already. You think the SEC got slapped around after Bernie Maddoff? Could you imagine how many people would love to beat the hell out of the FDIC and Washington right now? Everyone's looking for someone to blame.

If possible, I think a lot of people in a lot of places would like to delay this forever. Or, until the economy is so great that people don't care about this type of stuff anymore. Sort of like back in the late 90's and mid 2000's. IMO.

[cashman30]

good point rramirez82 i think its a catch 22 either way if we expose the corruption foreign investors could shy away even more. If we dont make an example of these scum to let the world know we are shaping up are financial system and the way we do business it could shy them as well. Its complicated

[dmceng]

rramiez82

Your last sentence gets to the meat of it. The settlement will include a stock swap and JMW would not jeopardize that by telling JPMC to give the 4B cash back at this critical time. Makes good common sense to let them work out the details in the next 3 weeks. But who really knows for sure? Only the Shadow knows!!lol

Take Care
David

[mperfection]

This post just deepened my conviction that the settlement will be a SIZEABLE one! It seems wise for the judge to allow the parties to reach an amicable settlement themselves, one that is stiff enough to give some acknowledgment (although it will never be enough) of the egregious seizure by the FDIC while at the same time not sending too strong of shock waves throughout the entire economy.

If the settlement is handled rightly, notice will be served to investors both domestic and abroad that the "LAW IS STILL THE LAW" in the U.S. and that any such foolhardy moves by financial institutions in the future will meet with the same, if not stiffer, repercussions.

By the way, my definition of "sizeable" means that the preferreds will be made whole and that commons will see a "substantial recovery", i.e., DOUBLE DIGIT cash settlement.

[Jestiron]

This is similar to my thoughts here:

"The words FDIC, Fraud, & RICO would never make it to the mainstream media, IMO, else it could mean the end for the FDIC*. The very point of the FDIC is to remove fear and distrust from depositors. If this were to make it to mainstream media, many would have to ask what this COULD mean in the future for their "insured" deposits. The foundation would start to crumble. Runs on all banks?

Yes...this is perhaps a bit extreme, but in essence I feel that these weaknesses exhibited by the FDIC (FDIC fund being broke, fraud against WaMu, etc.) would cause many to be concerned."

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=46363021

This cannot be allowed to undermine the economy, especially while it's trying to recover from the last mess.

-AJest

"On the whole, it is patience which makes the final difference between those who succeed or fail in all things. All the greatest people have it in an infinite degree, and among the less, the patient weak ones always conquer the impatient strong." - John Ruskin (1819-1900)