T-minus ? until Countrywide goes under.. . .

NEW -> Contingent Buyer Assistance Program
If the deal was iron-clad this POS stock would be trading @ 7.14 a share. Instead it's at $5.48. How could insiders not want to buy here and make 30% profit!?!? Something is fishy. No money-hungry investment manager would ever miss out on an iron-clad 30% return.
 
LM - certain insiders probably cant buy due to insider trading laws. If they are in possession of non-public material information then they could go to jail. Given the high level of visibility on the deal on stock price i doubt anyone would be that stupid (well they may be).
 
By insiders I meant hedge fund managers and other high powered wall st traders. These people ALWAYS know what happens before the general public does. If well-placed ears aren't certain the deal will take place, then neither am I.

I think the buyout announcement was just a big-- "Ok, now WTF do we do?"-- stall tactic
 
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Countrywide is even lower now. My hub tried to buy some log or log log paper a few years ago, and couldn't find any to buy. I think he found an internet site and printed it our. Log paper gone with the slide rule.
 
Looks like the stock is going lower because the deal may tank.

Article in todays WSJ about how easy it is for B of A to just walk away from this deal.

The spread on this deal is getting a bit large. Closed at $ 4.96 and the deal based on BAC`s Stock price on Friday would be CFC @ $ 6.55. The wider this arbitrage spread gets. The less likely this deal is going thru. Once the outside auditors get done with CFC and make the report to Bank of America. The last shoe will drop. Notice how Mozilo has not been seen or heard from ? The heat is on. And anything he says or does now can just hurt the deal even more.
 
There's a new ofc building here in Brevard on the space coast, just now renting. Along with some dentists, there is a big banner saying Countrywide is moving in. How can this be? Nothing is moving here, tho I think it's not as bad as Miami. Miami's Countrywide moved I think last summer from where it was at the end of the Metrorail station to Doral, in West Dade, and then by late fall, after spending all the money to move the whole ofc was shut down. The former manager was soliciting my former broker buddy (he's now successfully selling cruises) sometime in the fall. My guy, even where he was busy, didn't have enough business to hire somebody like that.

So how could this ofce be opening? With one person maybe? Lease signed before disaster, so banner is free advertising?
 
Time to bump the Countywide Thread with a new comic.

Looks like the Stock Market will tank tomorrow. That cant be good for the Countrywide deal either. Futures are looking very bad. Dow futures off 400 as I type. Asia and Europe off 5-7%. The economy is starting to come unglued and the Tan Man is one of the "Architects".

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I always thought the Fed set long term monetary policy. Bailing out the equities market seems counter to a free and open market system and more of a manipulation. Like giving a drunk a couple of beers. Nothing good will come of this giveaway. Just prolonging the corrections that are necessary and inevitable.
 
"I always thought the Fed set long term monetary policy."

That's what they want you to believe, but their actions show they are only concerned with the fat pockets on Wall Street staying fat.
 
These rate cuts will be paid for down the road with with drastic and sudden rate increases to combat the inflation that this fed has now ignited. Much like 1994 when the fed raised interest rates 3 full percentage points in just a twelve month period. Drove Orange County into bankruptsy in the process. Same reaction and overreaction to the 1991 recession fears. This WILL hurt down the road. History has a funny way of repeating itself.
 
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