A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
angelo mozilo sure sold a lot of shares,
You need to read this Keith very sobering and this is a very good article. http://tinyurl.com/yw89knYou will enjoy this read for sure.
isnt it interesting how goldman sachs seemingly have come out of this thing, unscathed? hmmm.
I've got APR-2008 $10 puts, and the damn company just keeps bouncing along. It's not even declining - still the puts are up about 260%, so I can't complain. The share price seems to be hovering around $9. It stopped declining in mid December. I guess it's "hit bottom", and "now is a great time to buy"! I'm hoping there's some major announcement or sell off in the next few months.
Keith,Since you think that buying real estate is a big waste of money, is this the time to buy Countrywide stock? The article says that it's down 75%, but that they predict the company will survive. Wouldn't that be an ironic recommendation!"Overcoming Real Estate Losses"http://WhineCountryRealEstate.blogspot.com/
Just wait for a pension or two to blow up...there will be so much bad-energy needing direction. I think they'll need police protection to even get these guys into court alive.
Goldmans shorted subprime while offloading the majority of its toxic waste mortgage based fixed assets in 2007.That's why they are the best of the best.
Doubt it.The FTC and government like to harass and abuse honest small business owner, but guys like the Orange One contribute too much in taxes and contributions to take him down.I learned this when I tried to sue Capital One for blatant errors on my credit reports and learned they're untouchable. The government won't do anything and no judge would rule against them.I'm guessing Countrywide is another Capital One.
The British also played a major role in blowing up the subprime lenders. In March, Barclays forced New Century mortgage, the big subprime lender, to buy back mortgages, in effect, throwing New Century under the bus and escalating the meltdown of the subprime lenders. Barclays also played a role in the Bear Stearns hedge fund fiasco which erupted inJune, as a major creditor to the bankrupt Bear funds. The issue is not whether the problems identified by the British were real—they are—but why the British would choose to exacerbate them. In previous financial crises, suchproblems would have been covered up, the factions more interestedin maintaining the illusion of calm, but the nature of the battle has changed. We are now in the endgame, where pushing as much of the damage as possible onto your rivals has replaced cooperation. The jackals are now fighting amongthemselves, to see who will survive.What is coming, is something none of us has ever seen before. Were the British plans to prevail, the world would descend into a fascist, Cheneyesque nightmare: governments stripped of what little remains of their abilities to protect their populations from imperial looting, corporate cartels gouging the public in ways that bring to mind what Enron did to California,a veritable new dark age of austerity, population reduction, and utter chaos—with the City of London ruling over whatever pile of rubble is eft.The irony is that the nation-state is far superior to the British Empire.
A brother of a friend of mine is still working for CountryWide in Phoenix Arizona - within their marketing section.However, he has informed me that they are working with as few people as possible now - a skeleton crew.His brother looks absolutely worn out. It's shameful what Mozillo is putting his remaining employees through.Attrition is always a slow painful process for employees, it's just a matter of time before they too will have to close shop, while Mozillo escapes with his platinum severance package.
Keith,You have every right to be impatient. We all are impatient. And this should frighten us. When the fox is garden the hen house-we all should be afraid.Okay. Enough with being scared. Now we have to do something. What? I'm of the generation (and the very small part of it) that took to the streets during the 60s to bring about change. Sometimes it worked, sometimes it didn't. Today, our society seems mostly comatose. We have become the Brave New World of Aldous Huxley's vision. Now that is scary. It is going to take a major, transformational jolt to bring people to their senses.My fear is that when they come to, they'll want a dictator-anybody-who will promise them the "something for nothing days" and the easy life will return.
This guy is so ugly he actually makes Howard Stearn look good...figuratively speaking of course.
As mentioned in the article posted by "ron":http://tinyurl.com/yw89kn"Wait until the prime mortgage implosion next year. We are not even in middle stages to the housing crisis and mortgage debacle. IT WILL CHANGE THE ENTIRE US SYSTEM, IN EVERY PHASE, NOT JUST FINANCIAL."
Have you noticed there has NOT been one mention of Countrywide or Tangelo! The MSMs are silent?!NOW Countryslime has new commercials promoting their credibility. How they stand for ethical business practices and high principles! YEAH RIGHT! You pieces of SHIT!CW - YOU HAVE A LOT OF NERVE promoting this crap NOW! Shame on you! YOU are a disgrace to humanity!
Countryslime is STILL offering the same loan programs and is STILL using the same qualifying ratios!If CW had genuinely changed, I would have second thoughts. However, they are STILL pushing/pimping the same loans that got us ALL into this mess!May you reap as you have sown Angelo! Karma is a beautiful thing...
My fear is that when they come to, they'll want a dictator-anybody-who will promise them the "something for nothing days" and the easy life will return.That sounds like National Socialism to me."free" healthcare anyone?
"Wait until the prime mortgage implosion next year. We are not even in middle stages to the housing crisis and mortgage debacle. IT WILL CHANGE THE ENTIRE US SYSTEM, IN EVERY PHASE, NOT JUST FINANCIAL."Things will change temporarily. Whether it's 2 years or 20 years nobody knows. You can rest assured that the next bubble will come along. The Great depression changed one generation then their children because greedy selfish drug addicted socialists who wanted everything for nothing. Now they want "free" healthcare for their broken down fat old bodies worn out from decades of drug abuse, junkfood and venereal diseases.
Enron brought on more regulation, and you think that's going to solve anything? It's even worse now.
Firing Squads and Guillotines for the Guilty.Forget waterboarding, much too humane...Begin with the Executive Branch as they are convicted...
what is a frog march?
Keith,Looks like this one got you de-listed again in Yahoo search.
Frog marching refers to the practice of forcibly transporting suspects or prisoners through a public place, up to and including carrying them such that their limbs splay in a frog-like manner. (Perp walking is similar, but implies the subjects move more or less under their own power.)Frog marching may be necessary to transport prisoners who are uncooperative or intoxicated. However, as a forced public spectacle, it may serve as well to humiliate those marched and send a message to those looking on.http://en.wikipedia.org/wiki/Frog-march
I'm still seeing Countrywide ads on the front page of Yahoo.America's #1 Home Loan LenderSpecial Internet Rates AvailableLOL
So, Keith....would you allow Mr Countrywide one more tanning session before he surrenders, or be a hardass and make him look a little pale for the mugshots? Inquiring minds want to know! ;)
Oink, Oink, Oink, SUUEEEE!Angie, they are keeping a bed warm for you and a light on in San Quentin.Your new wife, is a guy named "Joe" and he cannot wait to MEAT YOU.They don't like baby rapers in the joint Ange. Keep your back to the wall and the wind in your orange face...It will be a long time until you hear a wooden door close creep.
Expecting justice for the likes of Mozilo is futile: I gave up hope when he appeared a few months ago on a panel drawn by our President, sitting next to bigwigs like Bernanke, Paulson, etc.Haven't you all noticed the billions of $$$ being infused into the market by the so-called "Plunge Protection Team"? They did it again, just the other day. The government is pumping liquidity into the market as fast as it can, letting the dollar be damned (even though it won't stop the hemorrhaging).Why? Firms like CFC are considered "too big to fail", and Bush will do whatever it takes to prop up a firm like CFC on life support in a persistent vegitative state, even long after it should've died a natural death.What irony, eh, since Tangelo looks so freaking unnatural: turns out he's not really alive, but half-dead, just like a vampire.
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