Cfc

CalScholar · Mar 13, 2007

Quote from blast19:

Anyone else catch this interview?

It was disgusting...CEO said people are overreacting even though he dumped all of his shares, $150 Million worth recently.

There is something very wrong seeming about his actions.

Missed the interview, but I'm liking my CFC April puts right now and I'm guessing you are too!

According to an article I read, the CEO warned of a liquidity crunch that's getting worse.

"This is now becoming a liquidity crisis," and "it's going to get uglier," Mozilo said on CNBC television.

http://yahoo.reuters.com/news/artic...03-13_19-41-41_N1358627&type=comktNews&rpc=44

blast19 · Mar 13, 2007

Quote from CalScholar:

Missed the interview, but I'm liking my CFC April puts right now and I'm guessing you are too!

According to an article I read, the CEO warned of a liquidity crunch that's getting worse.

"This is now becoming a liquidity crisis," and "it's going to get uglier," Mozilo said on CNBC television.

http://yahoo.reuters.com/news/artic...03-13_19-41-41_N1358627&type=comktNews&rpc=44

Yeah, but he tried to paint this as a plus for CFC "at the end of the day" which probably means the end of the year.

I'm very curious why he sold all of his shares though and the fucking idiots on CNBC of course didn't ask him.

CalScholar · Mar 13, 2007

Quote from blast19:

Yeah, but he tried to paint this as a plus for CFC "at the end of the day" which probably means the end of the year.

I'm very curious why he sold all of his shares though and the fucking idiots on CNBC of course didn't ask him.

True, the guy's a sleazy a*hole. But I doubt his message got across considering the Dow was down 200+ while he was talking and mortgage companies were being blamed for it. I'm glad he dumped his stock. One more reason this stock tanks when the feds figure it out.

ByLoSellHi · Mar 13, 2007

Quote from blast19:

Yeah, but he tried to paint this as a plus for CFC "at the end of the day" which probably means the end of the year.

I'm very curious why he sold all of his shares though and the fucking idiots on CNBC of course didn't ask him.

It was Maria "maybe you can give me a jet ride sometime, big boy" interviewing him.

Badonkadonk journalism.

Mvic · Mar 13, 2007

Yes I saw it , guy was practically begging the Fed to lower rates. That won't happen but also saw the report on bloomie that Sen Dodd was talking about a possible gov bail out of subprime borrowers (and ergo lenders)

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aX5_ORASPbvY

I wonder if the fact that he is Sen from CT has anything to do with it? Wouldn't have anything to do with the Hedge Funds being up their eyeballs in sub prime CDOs would it?

Tax payer bail out of hedge funds is what it amounts to. Like I have said before, if you can't beat them join them.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a.RnhhDf0sJg

blast19 · Mar 13, 2007

Quote from ByLoSellHi:

It was Maria "maybe you can give me a jet ride sometime, big boy" interviewing him.

Badonkadonk journalism.

LMAO...it was the pristine young vag of Wall St. vs. Leatherface McGillicutty or Dr. Dump...whatever you want to call him. She might as well have given him makeup tips she was so kind to him considering he's dumped $150M in stock.

SEC will get him one day hopefully.

Mvic · Mar 13, 2007

I think there are 2 scenarios that could play out in the next year or two. One is that things get really bad and massive foreclosures happen, hedge funds blow up, market tanks, all financials get hit like never before etc

The other scenario is that there is a massive S&L type bail out (kind of appropriate that CFC is now a thrift institution and is eligible for that type of bail out) where the survivors get bailed out and make a good profit from holding huge market share at firesale prices.

Either scenario is going to put further pressure on the US $ so gold might be the smart play here.

blast19 · Mar 13, 2007

Quote from Mvic:

Yes I saw it , guy was practically begging the Fed to lower rates. That won't happen but also saw the report on bloomie that Sen Dodd was talking about a possible gov bail out of subprime borrowers (and ergo lenders)

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aX5_ORASPbvY

I wonder if the fact that he is Sen from CT has anything to do with it? Wouldn't have anything to do with the Hedge Funds being up their eyeballs in sub prime CDOs would it? Tax payer bail out of hedge funds is what it amounts to. Like I have said before, if you can't beat them join them.

This market crisis that allows us to trade it will be over by the time those things become a major factor although they are relevant of course.

I wouldn't pay some schmuck's mortgage via a tax...Dodd can round up his overpaid political buddies to help him bail out people with shit loans if he wants to. What a terrible idea.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a.RnhhDf0sJg

Mvic · Mar 13, 2007

Make no mistake, it isn't the sub prime borrower who he is keen on bailing out, it is the CDO writers who are on the hook. The same ones who will reward his campaign coffers handsomely if he gets them off. The fact that the legislation will help some poor schmucks from losing their home for now is just a nice political side benefit. Hate to be a cynic but that is basically how I think politics works, money 1st then help the people, and ofcourse the people end up paying for the help in spades. Win win for everybody except the tax payer.

Mvic · Mar 31, 2007

Quote from Mvic:

http://countrywide-foreclosures.blogspot.com/

Compare what these are being sold for and zillow estimates to get a sense of how much worse things are in reality than the estimates from zillow might seem to indicate. Inventory is rising.

Looks like CFC didn't convince too many new buyers at RJ conf today. Kind of hard to get others to hold the bag on hot air when the insiders are still dumping shares. CEO dumped another 70K at $35 the other day. $140M worth in 14 months.

1000 more homes valued at 1/4 Billion added to CFC's foreclosure properties for sale listing since I posted above 3 weeks ago. The ones that I have checked that have sold have gone for 20% below listing prices on average.