Replies to post #346332 on Mr Cooper Group Inc (COOP)

[clawmann]

Well, all of the pre-bankruptcy holders of all classes took a huge hit, and I would suspect that many of the current holders of dime bought after the bankruptcy filing, so most of the real victims are long gone.

[MrchntDeth]

Hey Jack,

Full Disclosure:

I own Preferreds and Dimes.

But when you say that you "feel bad if [the Dime Ltw's] got screwed," it's not a question of "if they got screwed."

They DID in fact get screwed. That what the Dime Ltw Advasary hearings were about. Fighting an uphill battle against a Debtor Hell-bent on wasting Estate resources against anyone that is not a favoref client of theirs, or not a hedge fund that was complicit in Insider Trading. If you didn't fall under the JPMC category, or the Insider Trading SETTLEMENT Note Holder Hedge Funds groups, you can rest assured that WG&M would spare no expense in padding it's bills. Forget about asking for asset lists, or asking to announce that long delayed opinion on the $4 billion account that belonged to WaMu.

And then:

" . . . but since I own P's and no DIMEs, I hope they lose, too."

That's not a very smart legal position to take. It suggests a "to Hell with what the law is" approach, "I want an outcome determinative ruling."

With that logic, JMW should just take any/all money that would otherwise go the Preferreds, and funnel it to the Q's, to Hell with the P's, not because the Q's are owed that money, but because some people only own Q's, and it would be "fairer" to give everything to the Q's, because collectively, the Q's lost more, as a group, than the P's.

Personally, I'd rather rely on the rule of law, instead of basing it on some intangible, such as how many people hold certain classes of shares, and in what quantities.

David

P's: I truly hope that you make a killing off of the P's because it means that I'll be making a killing as well.

But I am not hoping that we get a windfall based on yet another group getting F'd over by WG&M.

I only wish that JMW would start paying WG&M SOLELY in WAMUQ shares, and then maybe, finally, BR and his crew might suddenly start finding all kinds of assets that had previously been hidden from view.

Not any kind of illegal hiding of assets, in any way. Think of it more as a lucky, random kind of discovery, of course.

Pps: I am sure that could find more than a few people on this board that would have NO problem with this alternate approach.

Food for thought.