Replies to post #248544 on Mr Cooper Group Inc (COOP)

[uzualsuzpect]

warcton Share Tuesday, November 02, 2010 3:14:53 AM
Re: None Post # of 248544

$18.67 Billion in Cash -Examiner

Page 96.

"On or about September 19, 2008, the principal amount of the Master Note was $15 billion...the principal balance of the Master Note would need to be increased so that the $3.67 billion transferred to FSB could be immediately loaned back to WMB under the Master Note."

It is quite interesting that the report goes on to talk only about the disputed $3.67 billion, and completely ignores the other $15 billion in cash.

This is even more interesting considering on page 94, it says. "In 2004, FSB's investment portfolio was generating significant earnings, and FSB had approximately $14-15 billion excess cash in a demand deposit account."

So, the most recent info they could gather was from 2004?

Either way, why is there no "examination" into the stated $14-15 billion in excess cash?

$18.67 billion in cash brought to us by the Examiner!

We are still waiting on that asset list by the way.


http://www.kccllc.net/documents/0812229/0812229101101000000000027.pdf

[uzualsuzpect]

Another thing. Why should the examiner find money that should not go to the estate? When my brain acually works, I cannot see that going to anyone else except to the value of the estate. Isnt the purpose of BK to maximize the value of the estate? Yes. The examiner report is a double edge sword - it could very well work for us - although it is against us currently. I wont knock you and jaydoubleu's corks out of eachothers mouths yet... But the game is not over - just in overtime - the final score is what matters.