Can't afford CFC to fail

Tomorrow most homebuilders will probably open 2-3% higher, best bet is to fade that gap up on some of the major homebuilders like TOL, KBH and PHM.
 
Talk about bending over...

Under the terms of the deal, Charlotte, N.C.-based Bank of America acquired $2 billion in the form of nonvoting, convertible preferred stock yielding 7.25 percent annually, Countrywide said. The shares can be converted into common shares of Countrywide at $18 per share, with certain restrictions.

:D

PS - Buffett should be forced into retirement for not getting this deal. He has almost 1/3 of the BRK's value sitting in cash. Am I the only one who thinks he can't pull the trigger anymore?
 
i will if the strength is gone, definitely tho before their next quarterly report, i'll definetly go all in if their REO's start to go parabolic
 
With their new preferred position, BAC would be in the driver's seat if the company does go BK. Dump the bad loans through BK, buy the remaining good assets and integrate into BAC....picking up a $90 billion bank and its clients/locations in the process.

Either way, this looks like a good trade for BAC.

:D
 
This is major news. We will likely gap up big on this tomorrow with strength across the board in financials.

How far it will go I have no idea but to think of how many billions are now changing hands thanks to people that went net short last week and just held on to their positions...
 
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