Replies to post #183392 on Mr Cooper Group Inc fka COOP

[Lawrence 147]

What is truly amazing is how a company bleeding as much red ink as WMI was could shore up and improve the balance sheet of a company such as JPM Chase that was bleeding as much red ink as they were. How do you put 2 bad apples in a basket and come up with a peach? Even after writing down 30 billion dollars and threatening to replace 21 billion of it JPM should have continued in afar worse condition than they did. It is clear looking at their quarterlies that they are in fact a poorly managed company. They have driven away many customers and profits by not taking care of the little guy. There is far more money with a lot of little guys than there is with only a few big guys. Washington Mutual had that figured out long ago.

[ItsMyOption]

If you read the new book by Hank Paulson you will notice that he states many time a fact that in early 2008 JPM Jamie Dimon wanted WMI big time.

I have not finished the book, but it was a well known fact by Hank Paulson, that it was JPM wished to take over WMI.

Then JPM got to look at WMI books and made a $8.00 offer to buy WMI, which was turn down. He knew the value of the company at that time.

Then there was very private meetings that took place between FDIC Chairwoman Sheila C. Bair, together with JPMorgan Chase (JPM) CEO Jamie Dimon - a month before WMI was taken over (during trading hours) with what seems to be a very orchestrated effort to destroy all stock value of a public company. Was any inside information shared with market makers, and the traders that started a very active short selling along with using of put options – after those private meetings?

Do you think the DOJ should take a close look at this? Yes and I have sent them letter requesting it.

[JimsZ]

No No No... You have it all wrong. The way this country is set up is to rob from the middle class (WAMUQ holders), give to the rich (WMI Bondholders, JPM Stockholders) and the middle class is allowed to give the rest of their worked for money to the poor in the way of increased taxation....

I just read an article where they were talking about high-end stores sales up 30-60% where-as stores where the middle class could purchase were either down or even. This article was talking about the outlook of the current economic condition.



I must make this statement known... I feel I am middle class as I work 2 jobs, but at the same time working both those jobs (1 full time System Administrator, 1 part time System Administrator position) I am barely able to afford anything "extra" and if not for my second job I wouldn't be able to afford to even make it to work and pay my bills).

I was a pre-siezure shareholder here with most of my trading account invested in WAMU at the time of siezure thinking the shorts would have to cover and I'd be able to make a profit on my money. At the time there was a statement that all financial institutions were not to be shorted. Why were there 50 million shorts allowed to not cover in WAMU? Can you beat the GOVT? Who can?


All I can say is I had 90% of my money in WAMU and lost 99% of that. I sold 1/3 of what I had during the recent run-up at .695 (at a loss of about $3/share) and most of the rest at .18 recently. I do not think you can compete with the govt. All there is too it, without enough people behind it you sink! 99.9995% of the people in America think WAMU failed, I also have my doubts considering what the attorneys are willing to accept!

Point is, unless I come up with some wild ass gadget to be able to sell to 23 million people I will always be middle class. I will never be one of those guys like the KMart bondholders that were given a 600% return while shareholders were cancelled!