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Countrywide Stock Zooms 55 Percent on Rumor B of A Will Buy It
In August 2007 the Federal Reserve pumped $12 billion into B of A to shore it up. Shortly thereafter, B of A invested $2 billion in Countrywide in exchange for stock. I have a hunch that the Federal Reserve Board is behind B of A's acquistion of Countrywide through "under the table" payments or covert/hidden investments in B of A. I also believe that the Federal Reserve has a secret agreement to reimburse B of A for any post-acquistion operating losses it incurs after it purchases Countrywide. This is just conjecture and suspicion on my part.— January 10, 2008 10:07 p.m.
Countrywide Stock Zooms 55 Percent on Rumor B of A Will Buy It
The taxpayers are going to be the real losers if Countrywide is sold to B of A. Countrywide is likely shoveling all the rotten loans on Countrywide Savings & Loan, and B of A will likley only buy the mortgage operations but not the S&L. The S&L will likely be seized by the regulators due to insolvency and the taxpayers will have pay off the depositors. The S&L should have been seized by the regulators in 2006 and shut down when it became clear Countrywide could not survive in order to minimize the government's exposure.— January 10, 2008 7:09 p.m.
Countrywide Stock Zooms 55 Percent on Rumor B of A Will Buy It
B of A's proposed acquisition of Countrywide will be of little help to Charles Brandes' Brandes Investment Partners, a $125 Billion hedge fund headquartered in San Diego. Media reports state that Brandes Investment Partners purchased 7.9% of Countrywide on 9/30/07 for $865.1 million. Although we don't know the exact dates the shares were purchased or for how much, media reports indicate that most of the shares were likley purchased for $18 per share or more. If B of A purchases Countrywide for $8 per share, Brandes will have lost at least $500 million on Countrywide in less than four months. This has to be a record.— January 10, 2008 6:57 p.m.
Group Protests Governor's Plan To Cut San Diego Lifeguards
Maybe, maybe, just for once, the mindless dogma of the Republican Party--no new taxes--can be put to the test: Let the state GOP come up with the requisite 10 percent in needed cuts to balance the state budget through identifying "fat" in the budget. Let's see if the GOP can do that without irritating any of its interest groups.— January 10, 2008 6:15 p.m.
City Employees To Hold Anti-Aguirre Rally at Democratic Meeting
I retired from the city, what i saw was advancment for the alickers and those who knew and said what was going on were never promoted, actually they were harrassed. Well now I just hope that the city stay aflot.— January 10, 2008 1:32 p.m.
Website Slams Mozilo Appearance, Noting Stock Sales Before Crash
Countrywide questioners get expected welcome..."Don't tase me bro!"— January 10, 2008 1:02 p.m.
I'm a Slave for Britney
Amen.— January 10, 2008 10:16 a.m.
Website Slams Mozilo Appearance, Noting Stock Sales Before Crash
When can we demonstrate at the University President's office to stop this crook?— January 10, 2008 9:55 a.m.
Website Slams Mozilo Appearance, Noting Stock Sales Before Crash
Re post #17: Don, one can hope that St. Peter gives him an 'exit interview'!— January 10, 2008 8:54 a.m.
Website Slams Mozilo Appearance, Noting Stock Sales Before Crash
How could the President of USD, Mary E. Lyons whose phone number is 619.260.4520, allow this to happen?— January 10, 2008 7:41 a.m.