April 06, 2007

Countrywide's Mozilo is still dumping shares as fast as he can. And now come the office closings (and Subways)

Thanks to HP'er Daren from Boulder for the Countrywide-going-out-of-business shot.

Look around your towns folks at all the mortgage broker and realtor offices, especially in strip malls. What will they do with all the closed down locations? Even more Subways? And what will the millions of unemployed REIC do? Besides going back to bartending and used car sales?

Oh, I got it. They'll get jobs at Subway!


Anonymous said...

Heh, what is it with ex-bartenders getting their real estate licenses (then returning to bartending after the market tanks)?

Maybe that's part of the problem: all of the contacts these agents developed as potential customers were drunks/barflys, and not exactly the types of people you'd want to make $500k loans to!

LauraVella said...

You're right Keith - near me, here in Reno is a nice Spanish style business park which houses at least 3 mortgage lenders. One (the name escapes me)just went out of business the other two will no doubt fall as well, one being GMAC.

Anonymous said...

Let all send in pic's from our area of lenders it will be fun to have a pic today and a pic 6 mo's from now.

Anonymous said...


Anonymous said...

I especially like the "Countrywide" tanline left by its old sign on the stucco wall. Kinda like Mozilo with his bad tan. Too bad Mozilo will lose all that great tan once he spends his retirement years in prison. Only his cellmate will get to see the pale area where the "sun don't shine."

Anonymous said...

I have a friend in Orlando who was a bartender- last I knew he was went into RE where he was making "mad" cash- maybe a mortgage broker. I wonder how he is doing now.

LauraVella said...

Let all send in pic's from our area of lenders it will be fun to have a pic today and a pic 6 mo's from now.
I'm game, will have many pics to share.

What do you think about this idea Keith?

Anonymous said...

Tip your bartender well.

If you see a mortgage broker, grip your wallet tight!

An honest sandwich and an honest drink are more valuable than ten thousand subslime loans.

Anonymous said...

So what is he doing with his $$$? He has to keep some for the eventual criminal/ civil fines. But what about the rest?

Anonymous said...

Let all send in pic's from our area of lenders it will be fun to have a pic today and a pic 6 mo's from now.
Cool idea, with a Google map mashup of some kind....too funny.

Anonymous said...

This shopping center is being taken over by Whole Foods (really). Leases aren't being renewed for other tenents. This office most likely moved to a new location. More research is required to see if the function and people were eliminated.

PesticideEater said...

if they moved their office, there'd likely be a sign saying they moved, where to, please come on over, oh please please. but there ain't no sign anywhere there.

Anonymous said...

And yet....and yet....PRICE HAVE NOT FALLEN!!

You can post all the shots of Countrywide closings you wants. You can post all the info about CEOs selling shares. Who cares? Unless prices fall, it's all moot. And so far - nearly 2 years into this supposed crash - prices are down less than 5%.

Paul E. Math said...

That's a funny comment about bartenders going into real estate. The one friend of mine that was a career bartender now works in sales for HSBC, cold-calling people and trying to 'help' them into a subprime mortgage.

He doesn't have the education or breadth of experience to realize he's one of the bad guys - he really believes he's helping these people. But a lot of people fall for that one.

There's a prevailing belief that loaning money to someone, with interest, is doing them a favour. Which it isn't. It's a transaction like any other. I don't think McDonalds is doing me a favour by selling me a Big Mac - that's how they make money, that's why they're in business. HSBC wouldn't make that subprime mortgage if it didn't think it was going to make money on the transaction.

Although I guess that's why Mozillo is dumping his shares in Countrywide and why HSBC has $10B in write-downs - they aren't making money on these toxic mortgages anymore. So it's a real lose-lose and they're finally realizing it.

They should put Mozillo and TCDL in a real-life 'REIC Death Match'. Mozillo could pin Lereah and squat down with his ass over Lereah's face and say 'do you see a bottom again, mf??? do you see a bottom???"

Anonymous said...

I think they are unqualified to work at Subway.

uh ooh said...

First, the dotcom ponzi scheme under Clinton and now the housing ponzi scheme under Bush. The worst generation was betrayed by two their own. Will baby boomers end up eating poisoned pet food from China when they retire? It would solve the Social Security and Medicare issues.

FlyingMonkeyWarrior said...

I love Whole Foods! Hillary is trying to make our vitamins against the law unless a Doctor gives you a script and a Pharmacy fills it. She is such a socialist, imo.
She is doing it in NY now, the Nation is next.
She think she needs to protect us from ourselves.


New Legislation Threatens Vitamin and Supplement Industry in New York, Implications for Other States © NIE

New York State Assemblyman Felix Ortiz (D-51st District) has introduced four bills in both Houses of the New York State legislature taking aim at the vitamin and supplement industry.

* Bill A3944: To amend the general business law with regard to the sale of dietary supplements with the purpose of preventing unsubstantiated claims for dietary supplements.
* Bill A4014: To prevent school employees from selling or recommending dietary supplements to students and require schools to warn students of the risks of certain supplements.
* Bill A3357: To establish a dietary supplements safety committee.
* Bill A2068: To require labeling telling consumers which products have been tested by the FDA for purity.

“The current legislation presented in both houses of the New York State government could have a substantial impact on the future of the industry’s operations in New York,” said Andrew Fox, president of the National Nutritional Foods Association (NNFA) East.

“New York State is a very large market for the products sold by the vitamin and supplement industry. If your company had to do business with different packaging, different labels, and under the watchful eye of a state-sponsored dietary supplement safety committee, etc, the ability to sell your products in New York would be severely hampered and the cost to bring your products to market would increase significantly.

“This industry would be turned upside down if these bills were to pass,” Fox added. “Assemblyman Ortiz wants to put safe and well-regulated dietary supplements in the same bag as toxic chemicals—as a consumer safety hazard.”

Fox noted that New York is a cornerstone state in the country’s political process. “Many of the health laws passed in New York State are adopted rapidly by some of the key population states around our nation (i.e., Florida, Illinois, Georgia and Texas) and we have to be very concerned about a “domino effect” getting started with the legislature in New York,” Fox said.

The NNFA East New York State Task Force is soliciting funds from manufacturers and retailers who sell their products in New York to cover their expected budgetary needs of $100,000 (legal, lobbyist, grassroots campaign, media).

“Without support, NNFA East will be unable to mount significant opposition in Albany to prevent the passage of these detrimental pieces of legislation from becoming law in New York,” Fox said.

Anonymous said...

The move to ban vitamins and supplements is funded by the big pharmceuticals and doctors. They can't make money unless you're sick and they can pump you full of their expensive drugs. The drugs become even more expensive if you have insurance or medicare. The worst part is, these drugs do nothing to solve the root cause of you illness, because they don't want you healthy. The drugs only cover up the symptoms and you usually have to pop the pills for the rest of your life.

Anonymous said...

I hate democrats but I 100% support a crack down on the supplements industry. Why are they so scared of disclosure? Nothing says anything about a ban about their suspect fraudulent products, just full disclosure.

They are so afraid of disclosure that they will go so far as complain about having different labels for New York if a disclosure law was in place. How about stepping up and using the same full disclosure label nation wide?

FlyMonkeyButt must be a seller/pusher of these products

(Hey make money at home with no experience or intelligence, call super supplements today!)

Anonymous said...

Store up on Honey!

Honey - is it a good store of value?

Anonymous said...

Honey should be a good investment, especially in face of bees dying off. I think it will only go up in value/price until it is no longer available. It stores well, but over time, granulates, but that doesn't hurt it. If you can find a local source for it you might get it a bit cheaper than buying in a store. Buy in gallon jugs and divide it up into smaller containers and the time comes to barter with it.

Anonymous said...

You moron, why should I have to go see a doctor and get permission just because I want to take some Vitamin C or Ginseng? More people have been killed by prescription drugs than by Vitimin C or any other supplements.

FlyingMonkeyWarrior said...

FlyMonkeyButt must be a seller/pusher of these products
You are an idiot.

I do not sell these things. I am working on putting clean water in Third World Country's school, because their water is killing the children.

I am an educated consumer and suppliments are super foods, fu@ktard. They do not need to be regulated by Doctors who know nothing about nutrition. Hillary need to butt out.

My DOG food is Holistic and Organic. Who's is smart now. My two dogs never had a worry of death from China's rat poisoned plastic wheat.

You NEED the Democrats to protect you from yourself.

What is your BMI, mine is 18.5. Or, are you a Dr. or a Big Pharm Shill????

Why don't your read up on CODEX and come back with a position rather than nick names.

Oh, wait, maybe you are a boomer on 10 medications and your Doctor told you not to take any vitamins because they would interact with your prozac.

In that case I am sorry. Ignorance is Bliss.

Paul E. Math said...

Yup, I think the next big asset bubble will be in honey. The bull market is just beginning so get into honey before you're priced out of the market forever. Thing about honey is the price never goes down, only up. Foolproof. You just have to watch out for the Honey Industrial Complex sheisters because they'll sell their mothers just for an ounce of honey.

Got honey?

FlyingMonkeyWarrior said...

Paul e Math and Honey Anons,

Made me laugh before I had my coffee. Nice to see you having some fun with the anons, Math Man.


Anonymous said...

supplements are scams. anyone with a shred of intelligence realized that.

FMW: 18.5 is too skinny. drug companies are no better than MLM supplememt pushers like herbalife, but at least they are regulated.

FlyingMonkeyWarrior said...

supplements are scams. anyone with a shred of intelligence realized that.

FMW: 18.5 is too skinny. drug companies are no better than MLM supplememt pushers like herbalife, but at least they are regulated.

I am glad to know that you like meaty chicks, some guys do.

I see you did not tell me your BMI. Over weight?

Thats what will happen if you eat the SAD way, "Standard American diet" and do not understand or are not educated and empowered to take responsibility for your health.

I hope you never get sick and the Dr. can not find out what is wrong with you, as you are so wrong and so closed minded that you will miss out on treatments and you will have no where else to turn. Doctors know nothing zip about holistic treatments.

If Hillary take away vitamins and Socializes medicine and socializes super foods under Drs. orders only, which she is trying to do, then our personal choices for health care are the next freedom to die.

RESULT: all of us are at risk, just like the dogs and cats that died before the pet food recall.

And who said anything about MLM???? I hate MLM's. I said I shop at Whole Foods.

Again, your opinions show me that you are a totally



matrix living,

idiot, imo.

Have a nice day.

Anonymous said...

FMW like Keith cannot stand it when someone dares disagree and resorts to name calling in lieu of a ocunter argument.

Go on taking you vitamins made of soy or whatever the hell they put in those pieces of junks.

As for my weight: 210, 6'4". And yes I like meaty girls, a BMI of 18.5 is disgusting.

FMW said...

What is disgusting is anons who do not have educated opines posting them with out the facts, like you.