Replies to post #178000 on Mr Cooper Group Inc (COOP)

[fsshon]

JPM_Sux: Very good post, this is well thought out one. I like this quote

I am not naive and understand that our financial and judicial systems are corrupt and may not ultimately deliver justice, but there is a sufficient belief in the process that tells me that in the best case that I will be rewarded well for my efforts and in the worst case I will not have sacrificed a significant amount on this 'wager'.

JPM and the FDIC know that they are in the wrong. THJMW knows that they are in the wrong. We can only hope that the truth prevails and that political pressure does not leave this issue with an undesirable odor in the end.

I could not agree with you more.. If this goes sour, we have ample evidence to move on to the public level. JPM/FDIC do not want this info out there, yet we have it. Looks like Weil got JPM to admit the deposits belonged to WMI and the tax returns also, this can be used against them (JPM/FDIC) in the future. With thousands of shareholders filing a "joinder" and joining in with the EC and the USCC against the POR and proposed settlement, we have a LOUD voice. When that Joinder is filed, it should make the news.. Notice I said SHOULD!

[climberprof]

jpm_sux

I am sorry for your 401k and I lost big on this one and I have been on this board for about 18 months.

Now I have one problem with statements like this:
"..........The proposal that was made was simply a shot across the bow. They have to start someplace, especially since they requested a delay, but it was not intended to be the final offer only a starting position.

Of course they are going to slant it as far in their favor as possible. This, they think, gives them the best negotiating position moving forward..........."

This might be initial offer but who is making that initial offer to whom? If the JPM and FDIC was coming out with this offer and offering it to WMI, then I would understand and say that this is initial low offer and WMI's great big pay lawyers will force JPM/FDIC for a much higher settlement. But here all parties WMI/JPM/FDIC came together and agreed on this low offer. This tells me that JPM/FDIC's initial backdoor offer to WMI was even much lower.

Another point about "of course they are going to slant it as far in their favor as possible". Okay this could be true, again, if the offer was only coming from JPM/FDIC. It is benificial to them if the offer is as low as possible. However, how could this favorable to WMI's lawyers to start with a low offer?!?!?! That does not make sense to me. Now since WMI/FDIC/JPM are all agree on this ridicuolus, absolutely ridicuolous offer who is going to "negotiate" with them??!?! Now EC is made part of the settlements to intervene but I am not sure how much power they have on the negotiations.

Our only hope is if EC can get a shareholders meeting and choose a new BOD. That is the only thing which will change the game plan of WMI/FDIC/JPM significantly. AIMHO.

Best
Climber