Sticks

Countrywide Financial Hasn't Failed - To Disappoint

Whenever thinking about Countrywide(CFC)...ple... note that in Spring 2007 (yes just this year) it became a Federal Saving Bank (FSB) with FDIC Insurance for the depositors. Shareholder equity is subject to protecting depositors and not just the broader CFC assets. Therefore, who really owns CFC...shareholders or the Fed's? BK is not the only way the CFC shareholders could lose ALL their equity! Too BIG to fail...but not to BIG to be taken over!

Is Countrywide Financial the Next Enron?

Angelo has trapped the FDIC (US Taxpayer) and B of A into his scheme. He has NO capital and is using the teller window with FDIC insurance to fund his game and perhaps his personal CFC stock selling? Enron is tiny compared to the master swindler of all time, Angelo. Just wait for the Senate hearings on this one!