Lockstep Investing

Countrywide: Dogs Howling Over Bare Bones

Great post Mish. We need an update as soon as you get time. I wish I was an accredited investor for your hedge fund. But I like to see how the players play the game. :)

Can you also address the exposure B of A takes from boomerang loans from Freddie and Fannie back to Countrywide? At the end of the 2Q Freddie and Fannie said their #1 risk mitigation effort was to do forensic analysis on deteriorated loans and send them and the loss back to the originator. Countryslide originated 1/4 of the loans from 2007 back... It sounds like B of A will be cleaning that up for years. Any thoughts?

The Worst Is Behind Us (unless massive bank failure is considered a bad thing)

Good job Reggie. In depth and methodical.

I didn't know Bankrate.com could be so profitable to me.