Replies to post #281379 on Mr Cooper Group Inc (COOP)

[BullNBear52]

Rotella may have had that on his mind in a letter sent to the media.

He called the lawsuit "unfair and an abuse of power. I believe this may be a way for the FDIC to collect a payout from insurers who provided officers and directors liability coverage for the time they worked at WaMu," said the letter.

Rotella needs to get up to speed on D&O insurance. They don't pay out on fraud charges and haven't since the S&L mess back in the 1990s.

The FDIC proves fraud in this civil case and he is on the hook imo.