bigcityloans

Bill Miller: Countrywide Financial Is Worth $40/Share

Countrywide's stock will drop to 4 cents before it reaches $40.00 ... once its loan portfolio has been made transparent ... unless ... it is bought by Bank of America ... which I would guess is off the table now.

Washington Mutual Busted: Too Early to Bottom Fish the Sector

If my memory is correct ... I believe that Janet Reno put a very large developer in Florida ... General Development Corp. ... out of business in the late 1980s for putting pressure on appraisers to inflate appraisals ... as well as prosecuting the company executives ... some were convicted and served jail time ... perhaps Cuomo should read the Florida court's decision.

Countrywide's Troubled Financials

Once Countrywide's depositors recognize that their money is being used to float the failing company then there will be a run on the bank. News flow will speed the inevitable demise of the company. It's only a matter of time ... note the price of the stock today.