Replies to post #193589 on Mr Cooper Group Inc (COOP)

[Vulcanized Crawler]

shareholders return fire, accuse rosen of....
grand larceny, robbing wmi, stalling to pad the bills and lying thru his teeth to the shareholders and the judge.!!!!!!

[Mutz]

I love this part.


Over the past month nearly 1,100 individual letters condoning the proposed settlement have flooded the courthouse. They now comprise a third of the total filings made to the docket since the case’s initiation.

Shareholders have also become busy contacting other forms of government including the House of Representatives and Office of the Inspector General. Consequently both branches will be launching their own investigations independent of the Senate Permanent Subcommittee’s investigation which wrapped up earlier this month.

[byrddog]

JP Morgan appears to recognize the possibility of this and has already set aside $2.4B for ongoing “WMB litigation” according to their most recent quarterly report

JPM better "set aside" a whole lot more "milk" than that, especially now that Susman has donned the latex gloves for a thorough examination!!! This debacle keeps getting better and better with each passing day.

If JPM/FDIC don't settle this before an examiner is approved, they will lose a vast majority of thier bargaining power. May 5th will be a critical pivot point in this case.

Best of luck to me (and you guys)

Byrd

[SlyOne]

Know thy enemy!

If the current settlement is approved Washington Mutual would surrender the majority of its projected tax refunds and all of its litigation assets in return for a speedy end to the last nineteen months of protracted legal wrangling. While such would be advantageous for WaMu’s bondholders, who are on track to receive 100 cents on the dollar, equity would be completely wiped out.

The senior WMI bondholder get 100 cent on the dollar. Yes, but they also get back interest. Their bonds are freely tradeable at or above par. So, every day the settlement is delayed the ROI is reduced. I dont know when they started trading at par. Would be nice to check. A guess would be December 2009.

So, why stick around? One reason and one reason only. They want shares in the newly formed company thats it. Otherwise, they would sell and move to another investment. So, we as equity holders must know this and stop this. They want the shares.

According to the examiners filing. The Goldman Sachs recommendation was to buy bonds and buy CDS (credit default swaps). Well, BOARD, we need to figure out if they did just that. The bondholders would have gotten paid on the insurance, CDS, now they will get paid in BK.

[climberprof]

Diamond

You forgot to bold the most important part in that article, IMHO:

"............
Shareholders have also become busy contacting other forms of government including the House of Representatives and Office of the Inspector General. Consequently both branches will be launching their own investigations independent of the Senate Permanent Subcommittee’s investigation which wrapped up earlier this month. According to the Inspector General the investigation would, “assess the FDIC's resolution process for WaMu to determine whether that process complied with applicable laws, regulations, policies and procedures.”
........."

Can anyone confirm that this news is correct or not? Because the author of that article is another WAMUQ shareholder (pre-seizure) like you and me. If this news is in fact correct than it is pretty good.

Best
Climber

[fsshon]

Very Well-Written good job! eom

[luckybear]

why is it important for the author to note he was pre-siezure wamu.....
all he needed to say is long wamu...
who cares...

he like all past/current shareholders will get the same or zero