Replies to post #396762 on Mr Cooper Group Inc fka COOP

[WithCatz]

Let's dissect that...

Not being nearly as technically minded as you and Blue, who I feel are two of the great voices on this board, I feel that
1) The escrow shares will be paid simply because our lawyers considered that there must a separation of those that went through the early stages of the bankruptcy from those who buy WMIH today.

a) Eh. The seperation is a requirement of the bankruptcy system, nothing unique to this particular case. That, ahem, 'logic' might make sense if it was pre-seizure folks that were segregated, but that is not the case. A large quantity of folks who ended up with "Escrow Shares" were simply distressed-company investors, and had up to the final established date to buy, even at the last minute, or sell. Either way, it doesn't support the proffer.

2) I don't believe JPM is off the hook for this crime. Somebody somewhere will not allow them to get away with stealing a solvent bank for pennies on the dollar.

a) Nothing would please me more than to see JPM be held accountable for what their role was. But all indications are that the 'system' isn't going to 'work' that way. If 'we', as an group of retailers, haven't learned that now, then I don't know when.

3) Elaborate restraints were put on transferring of escrow shares, which means to me that someone in power was instructed to have justice in mind in the sense of the actual person who went through the bankruptcy and possibly was one who was robbed, would be the one who is compensated.

a) There was ZERO 'elaborate restraints' involved. Escrow shares, tied to the exit of bankruptcy, are the NORMAL way of them being handled. Nothing unique here. Nothing. It's purely a manifestation of the "new" company exiting bankruptcy (and the new stock - in our case WMIH) and the legacy "estate" (the WMILT) staying behind.

[Donotunderstand]

nranger

I do not believe these escrow shares are "different" then those say in the GM case etc