Replies to post #278405 on Mr Cooper Group Inc (COOP)

[mattchew]

Unfortunately the debtors are in bed with the enemy. jpig and fdic are the two most evil at the top of the list.

[fsshon]

I agree Catz, while other bankruptcies have involved the Debtors representing the best interests of the estate, this one has the Federal Government (i.e FDIC) trying to protect their actions and a very large powerful government bank (i.e JPM) trying to protect their actions and acquisition, so they both exerted pressure on the debtors (i.e Officers and Directors) to authorize a settlement that releases them from liability and retribution after the settlement has been implemented.

Most Debtors would never cave like these guys have, but this case invovles the Federal Government and its way of putting pressure on anyone who is working against it. The financial crisis was not handled well and the government is in CYA mode. This case is a classic example of CYA and who knows what back channels have been used to exert pressure. A&M in its capacity as a restructuring firm is not and I repeat not representing the best interests of the estates shareholders or equity interests, it is representing the best interests of the estates creditors (i.e waterfall stoppage/fulcrum to PIERS and Now WMB Senior Bonds) They should be villified as much as this board is villifying the judge. They are in charge of the estate....



~Don~

[gophilipgo]

Gotcha. Then it sounds like we are closer to agreeing than not. For example, I agree that in cases of things such as the ruling on the summary judgment, the lack of judgment falls entirely on the debtors. And I've seen the judge blamed far too often in things like this, when such decisions (or lack thereof) were not in her control, but rendered because of the debtors.

[dmceng]

Catz

Agree entirely. We have a wolf in sheeps clothing(WGM etal) with an agenda that would NEVER be envisioned to be part of a NORMAL BK court case. It had THJMW going along with it for the longest time. We are not out of the woods here by any stretch of the imagination but there is a small leak in the wall of the dam, getting larger as the weeks go on,imo. Time will tell.

GLTY and GLTA

Take Care
David

[EXDIMER]

Catz with regard to where to point the finger, I can see why anger is going to the Judge and to the Debtor. Both parties seem to agree on the basic GSA and POR being Fair and Reasonable so I am not sure we have more of a complaint against one vs the other. The debtor would say the EC is just trying to stall and defeat the fair and reasonable settlement between the senior parties. The Judge seems to want to bend over backward to address anything the EC comes up with, like the Examiner, then back tracks to make the Examiner moot. All that is happened is to enrich all the Lawyers, provide more short selling opportunities and prolong this thing with little hope of a favorable outcome for Commons. Is there some hope of a settlement for us? Yes. Is it probable? No.