Replies to post #390971 on Mr Cooper Group Inc fka COOP

[Donotunderstand]

re WMI

in letters to FDIC and others - the position of WMB WMI whatever was the needed write down from face value was 17B and that WMI would not incur all of that as a cash need in year one and could handle it over the expected "call periods" and that WMI had the ability if needed to reach a bunch of cash

(we know those to be those funny trusts JPM won as well but WMI thought they would get as CASH and issue out paper to pay on over the years)

[BullNBear52]

Lets not forget the rating agencies were playing the same games as all the banks.

Knowing that your bonds are ccc or lower and marketing them as AA


That just doesn't happen without a stamp approval from a rating agency.

http://www.justice.gov/opa/pr/2013/February/13-ag-156.html