Rocktex

There Goes Delta Financial, Now How Safe is Countrywide?

Sorry, there is a typo.
$680 should be $680K.

There Goes Delta Financial, Now How Safe is Countrywide?

To WakeUP:
It it nothing to do with justice or punishment.
See, here comes the best words in the last part of the article "Job cuts in mortgage lending surpass 80,000" (www.inman.com/hstory.a...)

“Ironically, while the financial sector has been under fire in recent months, CEO departures have fallen, demonstrating how insulated these executives remain from the credit crisis that has resulted in thousands of job cuts since August," Challenger said.

There is a vested interest group that others can't do nothing about it.

If Mozilo of CFC can have what he wants to raise conventional loan amount to $680, believe me CFC will be the winner.

Go long for CFC!

p.s. I have never bought any stock until today, let alone an interest in CFC.

There Goes Delta Financial, Now How Safe is Countrywide?

Ooh! Good post.
How come you forgot to mention how much FHLB, Atlanta gave $36 Billions against CFC's 70% ABS?
My interpretation is CFC is transforming into the 4th GSE. I don't see any possibility that CFC is going to BK unless FED is ready to be seem to have a clear position: the taxpayer is the final victiom to pick up the check for the dinner.
Yes, it is still possible for CFC to drop its shoes as DFC. C is a junk level, but still better than D, right?