Countrywide CEO sees recession ahead

http://news.yahoo.com/s/nm/countrywide_interview_dc;_ylt=AiUJCEnxvc_G7pCPLpJkIRSyBhIF ^ | 8-23-07 | Jonathan Stempel

[Toddsterpatriot]

I’m glad that your level of confusion doesn’t rise to the level of ex-Texan or Hydroshock.

[durasell]

I’m not confused. There is a problem, and a big one. If a problem’s source isn’t accurately identified, then there’s no hope of solving it. Blaming a band of sinister conspirators does nothing to help matters any.

[Toddsterpatriot]

I’m not confused.

Not about this issue, maybe.....

[durasell]

Ah, the ole Toddster is back!

How’s things? Hunky-dory?

[Toddsterpatriot]

I don't suppose you ever figured out the answer to this old question?

The typical hedge fund keeps 20% of the profits and charges 2% of assets. Why don't you tell me the maximum percentage of the profit that a mutual fund can keep?

[gotribe]

That guy gets the dumb**** award.

[durasell]

Why don’t you tell me the maximum percentage of the profit that a mutual fund can keep?

---

I answered it and you didn’t respond.

[Toddsterpatriot]

You gave wrong answers. Try again?

[durasell]

Gee, guess I flunked. Oh well...

[durasell]

Todd, here’s a clue for absolutely free: Nobody takes arrogance seriously anymore. It’s gone the way of irony.

[Toddsterpatriot]

Gosh, I was hoping you’d demonstrate your financial knowledge. Oh, wait, you did.

[durasell]

Todd — it’s those kinds of comments that destroy your credibility.

[Toddsterpatriot]

Says the guy who couldn’t answer a simple question about mutual funds. LOL!

[durasell]

I’m out Todd. Have fun.

[Fan of Fiat]

Congress knows everything I know.

That makes sense. We all know how ignorant Congress is.

[Cedar]

I’ve heard recently another corporate head say the same thing....will be like Japan, recession coming, won’t see it until another 12-18 months but would happen.

[Eastbound]

More details on the real estate market:

http://www.bloomberg.com/apps/news?pid=20601109&sid=a1IaEO5f_3kQ&refer=home

Almost 75 years since the last massive transfer of wealth.

Deja Vu. I was there.

[Hydroshock]

Sadly things are going just as I thought they would. And I think the worst is yet to come.

[Eastbound]

Well, lessee. Last time we also lost over 50 per cent of the value of our gold when the gummint grabbed it -- in addition to our equity in property loans -- in addition to our ten per cent equity in margin purchases. That's quite a wipe-out. Don't let me forget we traded our silver certificates in for FRN's -- real wealth for I.O.U.'s. Did I miss anything?

I wonder what little token of remembrance they will leave us this time. Amero's?

[Eastbound]

ping