tag:blogger.com,1999:blog-18675105.post1009776810709605271..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: BofA pays $2 Billion for a share of could-go-bankrupt, desperate-for-cash Countrywide Mortgagebloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger29125tag:blogger.com,1999:blog-18675105.post-73516633726117375882007-08-24T01:01:00.000+01:002007-08-24T01:01:00.000+01:00"Guess what renting bafoons, a bailout is coming. ..."Guess what renting bafoons, a bailout is coming. You lose yet again."<BR/><BR/>There's no way to bail them out. How? Drop the rate to 0%? Bernanke will not do that. What else, tell flippers that they can hold on to properties forever? Nobody trusts anybody in this market, so who exactly's going to lend money to new buyers who don't earn enough money to qualify for a loan? The party is over. Banks won't lend money to most people because they don't earn enough money to match current home prices. The only bailout is a huge iron ball chained to their ankles, if they choose to keep the keys. Bailout maybe for banks, which is already going on, but that won't help the consumer who are responsible for 3/4 of this f*cked economy.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-52545914570459713632007-08-23T20:25:00.000+01:002007-08-23T20:25:00.000+01:00"I'm disappointed CFC didn't go to $26 as in the a..."I'm disappointed CFC didn't go to $26 as in the after-hours. I was ready to short that puppy at every $1 over $25 it hit."<BR/><BR/>All the financial options are now very, very expensive -- I got greedy and nabbed some before they climbed even higher, but if you want to see a bubble in prices, compare what these options are trading at to some "mark-to-model" calculators like Black-Scholes.<BR/><BR/>Then again, if CFC really tanks, every contract could be worth 1-2K, so maybe they're not so expensive even now. The beauty of options!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-19644737288682636382007-08-23T19:56:00.000+01:002007-08-23T19:56:00.000+01:00Damn, I'm disappointed CFC didn't go to $26 as in ...Damn, I'm disappointed CFC didn't go to $26 as in the after-hours. I was ready to short that puppy at every $1 over $25 it hit. Looks like everyone else thought the same thing today after the after-hour traders got hosed.<BR/><BR/>Talk about a lame short squeeze. Barely a hiccup. Scary!Trevor Cordeshttps://www.blogger.com/profile/14406735107819160262noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-85668248321497442252007-08-23T19:53:00.000+01:002007-08-23T19:53:00.000+01:00Went long on the puts this morning right before Mo...Went long on the puts this morning right before Moody's warning that CFC's debt could be downgraded to junk.<BR/><BR/>Sure is fun to capture paper gains of 30% in 10 minutes.<BR/><BR/>I agree with a previous commenter though -- we can make a little money playing around the options (and lose more than a little too), but the recession that this is heading towards will really hurt.<BR/><BR/>What to do with the 401K? What to do taxable captital gains? The wrong timing could be a huge mistake. Even long term 401K stuff could take years to recover.<BR/><BR/>I have to admit this popping bubble is affecting my investment inclinations (slow and steady, never time, etc.) in ways I never expected. Now I'm getting greedy about the options, and am more and more tempted to time long term stuff to protect it from a possible recession.<BR/><BR/>This is all getting a lot trickier than simply renting and shunning the debt for an artifically inflated house.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-23750995939442711502007-08-23T19:28:00.000+01:002007-08-23T19:28:00.000+01:00Man, that fuschia tie really brings all the orange...Man, that fuschia tie really brings all the orange together, doesn't it?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-82659260447529958072007-08-23T19:19:00.000+01:002007-08-23T19:19:00.000+01:00BWA HA HA HA HABill Gross says Bush must bailout h...BWA HA HA HA HA<BR/><BR/>Bill Gross says Bush must bailout homeowners. He even used the "b"word.<BR/><BR/>So let's recap:<BR/><BR/>Gross says bailout<BR/>Hillary says bailout<BR/>Obama says bailout<BR/>Dodd says bailout<BR/>Cramer says bailout<BR/>everyone on CNBC says bailout<BR/>Wall St says bailout<BR/>Banks say bailout<BR/><BR/>Oh but Keith says no bailout.<BR/><BR/>I wonder who the powers that be will listen to?<BR/><BR/>Guess what renting bafoons, a bailout is coming. You lose yet again.<BR/><BR/>DopesAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-46239674589885660112007-08-23T19:14:00.000+01:002007-08-23T19:14:00.000+01:00Anonymous said... CFC down 9% so far from the o...Anonymous said...<BR/><BR/> CFC down 9% so far from the open<BR/><BR/> Mozilo selling after the pump?<BR/><BR/> August 23, 2007 6:26 PM <BR/><BR/>----------------------------<BR/><BR/>Yeah but the open was 25% higher than yesterday's close CletusAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-41091654406344339752007-08-23T18:43:00.000+01:002007-08-23T18:43:00.000+01:00No. BoA proxies shorting the hell out of CFC today...No. BoA proxies shorting the hell out of CFC today. Look at the volume. Retail buying would not be in the hundred of millions of shares traded so far today.Unknownhttps://www.blogger.com/profile/18414445841991646999noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-46088942715928386262007-08-23T18:26:00.000+01:002007-08-23T18:26:00.000+01:00CFC down 9% so far from the openMozilo selling aft...CFC down 9% so far from the open<BR/><BR/>Mozilo selling after the pump?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-21341710646489782642007-08-23T18:25:00.000+01:002007-08-23T18:25:00.000+01:00To the DOPE that BOUGHT CFC at $25 plus last night...To the DOPE that BOUGHT CFC at $25 plus last night and this morning ..<BR/><BR/><BR/><BR/>BOOYAAAA!!!! ROFLMAO !!!mark brickmanhttps://www.blogger.com/profile/09721070352661662727noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-35688467119997542812007-08-23T18:02:00.000+01:002007-08-23T18:02:00.000+01:00%25 of all subprime loans that CFC wrote are in so...%25 of all subprime loans that CFC wrote are in some stage of default. CFC is obligated to buy back any mortgages that fail. They don't have a fraction of the cash needed to do that. CFC has other businesses that generate a good cash flow. If they file BK and erase their debts they could be a money making business again. Of course BoA will now own a big chunk of that business, which they bought for peanuts from a desperate CEO who spends way too much time under a tanning lamp.<BR/>And don't fault Mozilo for selling his stock, he's going to need that money for a face transplant when the skin cancer kicks in.brokersleaveyoubrokehttps://www.blogger.com/profile/17872742292613334422noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-81721586600853264772007-08-23T17:57:00.000+01:002007-08-23T17:57:00.000+01:00You see what happened with cfc today? The market i...You see what happened with cfc today? The market is spooked. Fear is here.joonjoonhttps://www.blogger.com/profile/01374051789954296205noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-8472788764653917572007-08-23T17:34:00.000+01:002007-08-23T17:34:00.000+01:00Anonymous said... In jail there are no tanning boo...Anonymous said... <BR/>In jail there are no tanning booths <BR/><BR/>August 23, 2007 10:37 AM <BR/>---------<BR/><BR/>Club Fed might have some....but he will have to beat back Lindsay Lohan!stuckinthecityhttps://www.blogger.com/profile/04103831140035179103noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-54343550918993686252007-08-23T17:22:00.000+01:002007-08-23T17:22:00.000+01:00keith said... The market didn't buy it or Mozil...keith said...<BR/><BR/> The market didn't buy it or Mozilo is dumping shares hard this morning<BR/><BR/> August 23, 2007 4:18 PM <BR/><BR/><BR/>HUH? CFC is up and BAC is up. I'd say the market bought it hook line and sinkerAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-54270356417245686052007-08-23T17:08:00.000+01:002007-08-23T17:08:00.000+01:00"I own shares of both bofa and countrywide. Bought..."I own shares of both bofa and countrywide. Bought lots of it last week.<BR/><BR/>I am a happy man today. "<BR/><BR/>You wont be very happy by next week it is resumes it's downtrend.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-45123480545346883562007-08-23T17:07:00.000+01:002007-08-23T17:07:00.000+01:00"In my personal opinion, if you work for Countrywi..."In my personal opinion, if you work for Countrywide, get ready to be laid off."<BR/><BR/>To all Country"doulble"wide employees:<BR/><BR/>You are ALL FIRED!!!!<BR/><BR/>HAHAHAHAHAHAHH How's that mortgage gonna get paid now? Adding MORE homes to the already SKY HIGH inventory.<BR/><BR/>Yeah, thats right, pay back is a bitch aint it?<BR/><BR/>snicker.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-45131351709847314382007-08-23T16:46:00.000+01:002007-08-23T16:46:00.000+01:00agree Keith, step up and buy stock Mozilo. Soft ba...agree Keith, step up and buy stock Mozilo. Soft ball Maria never disappoints guaranteed the insider sales question was an interview breaker, the only irresponsible thing about the Merrill analyst is he didnt't yell fire sooner. He who panics first panics best.Harleydoghttps://www.blogger.com/profile/17308100195750696246noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-42638484826133951822007-08-23T16:18:00.000+01:002007-08-23T16:18:00.000+01:00The market didn't buy it or Mozilo is dumping shar...The market didn't buy it or Mozilo is dumping shares hard this morningbloggerhttps://www.blogger.com/profile/06585266242070350399noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-70156625274876836742007-08-23T16:12:00.000+01:002007-08-23T16:12:00.000+01:00bofa doesn't want to kill cw you idiots. it's not ...bofa doesn't want to kill cw you idiots. it's not like jcpeenny going under will help sears. if cw goes under markets have a shit and bofa loses $5B in value the next day.<BR/><BR/>bofa would be happy to make $0, even lose a little to save cw and give the perception to the world that all is well with mortgage lenders<BR/><BR/>for once take your brain off conspiracy mode and think rationallyAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-51951863304300432112007-08-23T15:48:00.000+01:002007-08-23T15:48:00.000+01:00this is kinda funny, my sister works for bofa and ...this is kinda funny, my sister works for bofa and her husband just got a job with countrywide 2 weeks ago. she must be up to this.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-14746583483771743302007-08-23T15:16:00.000+01:002007-08-23T15:16:00.000+01:00Godzillo is on @ 11:00AM EST (08/23/07) with Maria...Godzillo is on @ 11:00AM EST (08/23/07) with Maria Barfolomo on CNBCAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-81015982989726215242007-08-23T15:00:00.000+01:002007-08-23T15:00:00.000+01:00I own shares of both bofa and countrywide. Bought ...I own shares of both bofa and countrywide. Bought lots of it last week.<BR/><BR/>I am a happy man today.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-20064619177287077132007-08-23T14:51:00.000+01:002007-08-23T14:51:00.000+01:00Hey DOPESCFC is already back to where it was befor...Hey DOPES<BR/><BR/>CFC is already back to where it was before the BAC deal was announced. Bully for the bears!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-21915262121390759192007-08-23T14:04:00.000+01:002007-08-23T14:04:00.000+01:00Yep, shotgun marriages are always kind of strange....Yep, shotgun marriages are always kind of strange. Paulson is the best man, and Bernanke gave away the bride.<BR/><BR/>BTW HPers, how are those CFC puts doing today?<BR/><BR/>LOL - Dopes!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-3400253755471247492007-08-23T14:00:00.000+01:002007-08-23T14:00:00.000+01:00Ha! Say goodbye to your precious "correction" bea...Ha! Say goodbye to your precious "correction" bear-babies. Look at the market this morning. BofA is saving the whole mortgage sector by bailing out countrywide, and the Fed will backstop anyone stepping in to save the mortgage market. Congress will bail out the flippers and the scammers and the subprimers and anyone else who can crawl to papa Fed's big cash-dripping teat. <BR/>The 'turmoil' is over, this bull run has shaken off all the whining about credit and next stop Dow 20k.Anonymousnoreply@blogger.com