January 08, 2008

Na na-na na-na na na-na na-na ah slow down, you're gonna craaaaaaaaaash

U.S. stocks back in red after Countrywide stumble
Nasdaq Composite poised to extend losing streak into an eighth session


NEW YORK (MarketWatch) -- U.S. stocks fell sharply Tuesday as Countrywide Financial Corp. denied bankruptcy speculation and AT&T Inc. pointed to softness in its broadband and phone line business, pushing the Nasdaq Composite into an eighth day of losses.

"The financials are dragging everything down. This is the largest mortgage originator in the country, trading like it wants to go out of business," said Peter Boockvar, equity strategist at Miller Tabak.


26 comments:

Anonymous said...

Think Angelo and Bush talked this morning?

http://news.bbc.co.uk/1/hi/business/7176093.stm

President George W Bush says the US economy has a "strong foundation" but has warned Americans that continued growth cannot be taken for granted.
Challenges confronting the economy included a downturn in the housing market, high energy prices and turmoil in financial markets, he said.

Anonymous said...

FHLB on the hook for $100 billion

Public funds: $50 billion here, $50 billion there — pretty soon you’re talking about real money



http://www.badlandsjournal.com/?p=416

Ron said...

This idiot rapes the Country and steals with no bid contracts and endless wars for personal gain and vendettas....and has the gall to stand there and say we are doing ok...what a traitor.

keith said...

Anyone think there'll be lines outside Countrywide offices tomorrow like Northern Rock in England?

There should be.

Anonymous said...

2008 is turning out to be a great rimjob already:

1) Economic collapse.

2) Pre-emptive war in Paki and Iran.

3) Some random "Council on Foreign Relations" flunky in the Whitehouse.

4) Inflation through the stratosphere.

Bye bye Great American Empire. Hello American Banana Republic.

Edgar said...

I heard Tangelo was going to buY a hundred million shares of CFC @ $6.00 per share, with his own money.

NOT!

PSYCHE!

keith said...

After falling 90%, when countrywide goes up 10% tomorrow DOPES is going to say

SEE COUNTRYWIDE RALLYING NOTHING TO WORRY ABOUT STUPID HPERS WHO WERE SHORTING COUNTRYWIDE YOU LOST I WIN

DOPES!!!!

Or something like that

Meanwhile, I wonder what Angelo is doing tonight. Those insider trading charges are getting easier and easier to file tonight.

He knew. He pumped. He had CFC buy back shares. And he sold. And now he should go to jail.

Andrew Hac said...

This is beautiful, bone-shivering, spine-shaking news. Yes, the big one is coming and it is coming sooner than you have thought. Man, Dude, talk about greed, irresponsibility, over-the-head spending, pack-rat mentality. All these shits have to do with buying a house, ATM house-equity piggy bank, driving that stupid-ass looking gas-guzzling Hummer/Ford SUV. I do believe the Americano deserves every bit of this punishment.

"His Judgement Cometh and that Right Soon..."

Anonymous said...

Did anyone see this?

Countrywide "recreated" letters to homeowners? WTF? The judge is clearly appalled with CFC's claims in court:

http://www.nytimes.com/2008/01/08/business/08lend.html?ei=5087&em=&en=446a2c12fa52e7f9&ex=1199941200&pagewanted=print

Anonymous said...

Love the song and the girl is HOT!

Anonymous said...

Oh no it's 1987 all over again. Oh wait stocks are 20 times what they were in 1987.

Never mind.

Anonymous said...

Ok, even if Countrywide Financial goes belly up, we still have a very large diversified economy. We may enter into a recession, but it will be a mild one and then the effects of the rate cuts will take place and our economy will boom again.

Oh, I can hear the replies to my post : "oh you are an idiot", "you are stupid", "you are a stupid Americano", etc....

Anonymous said...

Blogger Andrew Hac said...

This is beautiful, bone-shivering, spine-shaking news. Yes, the big one is coming and it is coming sooner than you have thought. Man, Dude, talk about greed, irresponsibility, over-the-head spending, pack-rat mentality. All these shits have to do with buying a house, ATM house-equity piggy bank, driving that stupid-ass looking gas-guzzling Hummer/Ford SUV. I do believe the Americano deserves every bit of this punishment.

"His Judgement Cometh and that Right Soon..."

January 08, 2008 9:47 PM

Keep dreaming about us "Americano's" getting a financial punishment. Is it our fault that the rest of the world worked and toiled and decided to send their capital to our shores so we can drive big SUV's, have fancy cars, have fancy electronic products, big McMansions??? Who is stupid, us Americans who convinced the world to lend money so we can live an extravagant lifestyle or the foreigners? You decide! You know it, I know it, and the rest of the world now will know it that we Americans have no intention of paying back all of that money. BTW, get a life you idiot Mr. Andrew Hac obviously you are more jealous of us Americans that is why you are anti-American. Don't blame us because you live in a third world country, but blame your own country for that Mr. Andrew Hac.

Anonymous said...

anonymous said...
Ok, even if Countrywide Financial goes belly up, we still have a very large diversified economy. We may enter into a recession, but it will be a mild one and then the effects of the rate cuts will take place and our economy will boom again.

Oh, I can hear the replies to my post : "oh you are an idiot", "you are stupid", "you are a stupid Americano", etc....

January 08, 2008 10:48 PM
--------------------------------------

actually, I envision you with your hands folded, praying,

"even if Countrywide Financial goes belly up, we still have a very large diversified economy. We may enter into a recession, but it will be a mild one"

"even if Countrywide Financial goes belly up, we still have a very large diversified economy. We may enter into a recession, but it will be a mild one"

"even if Countrywide Financial goes belly up, we still have a very large diversified economy. We may enter into a recession, but it will be a mild one"

"even if Countrywide Financial goes belly up, we still have a very large diversified economy. We may enter into a recession, but it will be a mild one"

Amen.

Anonymous said...

So much for those 2007 market returns.

We're only 5 trading days into the new year and they've already been completely washed away.

When is Bernake going to cut again?

Jymkata

Budvar said...

Hey, ease up on Hac, it isn't his fault.

If the only words of English your mother knew were "Hey GI, sucky fucky 5 bucks and me love you long time", you'd have a flea up your arse about Americans too.

Anonymous said...

Andrew Hac must not be hungry because he didn't say anything about a "roasted snapping turtle."

My guess is he lives right here in Americano and he's just pissed of at the whole country because is cab driver's pay check is not enough to pay his $800 SUV payment and his $5000 adjusted mortgage payment. Not our fault he bought the lie that the Americano Dream is a big SUV and a big McMansion.

And on top of that Rush Limbaugh told him he could live like a king on all the welfare money the govt. would be throwing at him.

But what really pisses him off is that he bought into the big lie because Suzanne said she had researched it!

Anonymous said...

I like the fact that Mozillo looks like a cross between Godzilla and an orange.

Let's call him Godzillo.

I also like the fact, and celebrate it with song and mirth, that the real estate scoundrels are having to eat cup of soups and stale bread to nourish their bony buttocks.

Let them eat cake!

Anonymous said...

Crash from The Movie Dumb and Dumber. Whatr a perfect song for the loser real estae agents.

james said...

"So much for those 2007 market returns.

We're only 5 trading days into the new year and they've already been completely washed away.

When is Bernake going to cut again?

Jymkata"

Speak for yourself. I made 1300 bucks today alone.

Thank fucking god I read that article last year about this time that mentioned the phrase "housing bubble", so I bought BEARX instead of a condo.

Anonymous said...

If the only words of English your mother knew were "Hey GI, sucky fucky 5 bucks and me love you long time", you'd have a flea up your arse about Americans too.

----------------

I didn't think the co-star in a donkey show needed that much English. Wow, I learn something new every day!

Russ DoGG said...

This is the link for the same song done to a political cartoon housepricecrash.co.uk

http://www.youtube.com/watch?v=oZFt46aQyQ8

I think its funnier that way

Anonymous said...

Ah The Primitives.

Nothing like seeing a band do their best song, a one-hit-wonder pop masterpiece in front of a crowd of only 300.

Adam Slowhand Smith said...

Congrats to those of you who bought Jan 08 puts on CFC back in July 07: you're enjoying a 14x return on your investment!

For the math-challenged out there, that means $10k invested in puts returned $140k! Funny, as that 14x return in 6 months completely dwarfs the 2-3x return that real estate offered over the course of the last 7 years, at it's peak!

So enjoy the newfound wealth: that should soothe the insult of having to listen to all the wanna-be Trumps prattle on about what an idiot you were for waiting it out on the sidelines as a renter.

And let the banks and specuvestors choke on their own greed, swallowing mounds of property that they now can't pass or purge. It's like a hungry dog gorging themselves to death...

Isn't there some saying about he who laughs last laughs best? :)

Andrew Hac said...

The Americano is as toasted as a snapper turtle skewered on a stick from head to ass all sizzling, juices

dripping, fat popping over a bed of white hot charcoal grill.

Americano = Grilled Snapper Turtle

Heeeee... Haaaaa... Arrrrr...

The mentality of the average Americano is just amazing, if not stupefying.

A Circuit City Sale Associate is able to buy a house.
A Shoe Sale Man is driving an Audi.
The Iraqi has Weapon Of Mass Destruction.

Talk about brain-dead zombie, uneducated crapper. Maybe that is the reason why there is such words as "Trailer White Trash"...

Anonymous said...

James said
"So much for those 2007 market returns.

We're only 5 trading days into the new year and they've already been completely washed away.

When is Bernake going to cut again?

Jymkata"

Speak for yourself. I made 1300 bucks today alone.

Thank fucking god I read that article last year about this time that mentioned the phrase "housing bubble", so I bought BEARX instead of a condo.
___________________________________

I was just talking about the market returns of the Dow, Nasdaq and the S&P 500.

I also have 15% of my money in BEARX, 10% in gold, 5% in silver 30% in Euros and other foreign currencies, and about 10 - 20% in energy, alternative energy and industrial material stocks (including precious metals).

My portfolio has been kicking ass so far in 2008 (after going up 20% in 2007).

Jymkata