Replies to post #273486 on Mr Cooper Group Inc (COOP)

[uzualsuzpect]

WASHINGTON MUTUAL: “IT’S YOURS” Page 393

FDIC officials told the FCIC that they had known in advance of WaMu’s troubles and thus had time to arrange the transaction with JP Morgan. JP Morgan CEO Jamie Dimon said that his bank was already examining WaMu’s assets for purchase when FDIC Chairman Sheila Bair called him and asked, “Would you be prepared to bid on WaMu?” “I said yes we would,” Dimon told the FCIC. “She called me up literally the next day and said—‘It’s yours.’ . . . I thought there was another bidder, by the way, the whole time, otherwise I would have bid a dollar—not [$1.9 billion], but we wanted to win.”

[byrddog]

The FDIC’s Bair had a slightly different view. WaMu’s failure “was practically a
nonevent,” she told the FCIC. “It was below the fold if it was even on the front
page . . . barely a blip given everything else that was going on.”

http://c0182732.cdn1.cloudfiles.rackspacecloud.com/fcic_final_report_full.pdf

Bair is one sick, incompetent, delusional idiot.

Byrd