erniem

FBI Investigating Countrywide

Would not surprise me to see Countrywide go under this month. I also receive interest checks monthly from CFC bank unit and this month's is a week late. I expect I will end up using the FDIC insurance to get my money back.

My 2008 Predictions for Financial Catastrophe

I'm stocking up on popcorn and couches.

BoA Buys Countrywide - Implications for Main Street

The government probably forced BofA to buy CFC, or actually gave them so many assurances that it became a good deal.

The Real Story on Countrywide, Cont.

No doubt, the fed would not let the largest originator in the US tank. And they cajoled BofA to do this. And helplessobserver sees the issue, MBIA will not go under either.

Market Does Not Believe Countrywide's Denial of Bankruptcy Rumors

Big company, big infrastructure, lots of income. It may go the way of Lucent, down to 93 cents and back up again. Don't write off CFC yet. There were 164 million shares that traded hands today. All of them had willing buyers.

Countrywide's FHLB Bailout

As mentioned CFC owns a bank, and they are currently selling 5.5% CDs, an interest rate almost a full point higher for 1 year CDs than any other FDIC bank in the US. It is no secret the hundreds of millions in deposits the high rates are garnering are propping up the parent company. Yet another Fed funded bailout, and a legal way for CFC to gamble with Fed money.