Replies to post #230431 on Mr Cooper Group Inc fka COOP

[uzualsuzpect]

Ohhh... Come on Catz.... We're only looking at a few hundred extra bucks of admin costs... Okay, $1,000.00 max ;-)

Extensions allow the FDIC "to settle administrative issues," he added, such as options on leases for branch offices, reconciling account balances and in some cases pending litigation.

[BetweenUnemployment]

Catz, Before you read on and take offence, know that I have been a fan since I joined this board (http://investorshub.advfn.com/boards/read_msg.aspx?message_id=51429860) and I digress…

Can the price be adjusted? Anything in this world is possible. It's possible that the examiner will find a weathered parchment signed in blood detailing how Kerry Killinger and Jamie Dimon agreed to sack WAMU and split the spoils. My only point is that it--a material re-pricing of the deal between WAMU and JPM—based solely on this amendment and the extension of the settlement date is unlikely. And by unlikely, I mean, it's really, really, really not going to happen. I'm taking what the FDIC's saying [on this] at face value, i.e., it's going to be for administrative settling and will not affect the price. If somehow the FDIC gets tagged and the only way to save their ass is to point to this amendment and try and get another couple of billion dollars out of JPM...well, good luck.

I'm not trying to belittle your points, Catz, but I think it's grasping at straws when trying to rely on the possibility that price is going to be materially affected because of this (I'm not talking about a few million up or down, even in the low 7 digits).

The preliminary examiner report on the 7th, if favorable, should do more in terms of an uptick than the amendment, namely the 6.25% that we got today.

Here's a great article I suggest everyone read to bone up on the FDIC before they start re-posting other's work (not directed at Catz) as it was timely as WAMU was taken under/over:

http://www.gibsondunn.com/publications/Pages/FinancialMarketsCrisis-FDICAuthority-BankFailures.aspx

Also, for people like XOM, I'd suggest reading all of what the FDIC has to offer in terms of its role when financial institutions fail. It's much better than trying to cherry-pick provisions that fail to prove your point(s) (again, not directed at Catz):

http://www.fdic.gov/bank/historical/reshandbook/

-BU