Countrywide CEO sees recession ahead

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

[Calpernia]

I will bluntly say, I don’t find the keyword spamming funny.

Blunt enough?

[Petronski]

Maybe?

This is exhausting.

[Calpernia]

I support that.

[Hydroshock]

The fore closurerate is up, I said debt not deficit, that huge, and recession is coming.

[Petronski]

I find it hilarious at times. One of my favorites is “Tom Joad.” But with any comedy, some of it works, some does not. And blasting it—spamming it—becomes tiresome.

[ex-Texan]

Hacking into computers is a crime.

[Petronski]

I know that. I’m an attorney.

Are you an attorney?

[ex-Texan]

Oh, I though you were a mortgage broker.

[Petronski]

By now you must have grown accustomed to being profoundly wrong.

[ex-Texan]

See my # 86. File complaint with the local DA. These hackers are playing vicious games to protect a criminal enterprise. Organized crime. Let the DA go after them. Fix some popcorn. Sit back and enjoy what is about to happen.

[Toddsterpatriot]

The fore closurerate is up,

How much and why would that necessarily cause a recession?

I said debt not deficit, that huge,

The debt is growing slower than GDP. Again, why would a debt growing more slowly cause a recession?

and recession is coming.

The lost productivity of the doom and gloomers is enough to shrink GDP. Of course many of them aren't adding much to GDP at this point.

[Toddsterpatriot]

These hackers are playing vicious games to protect a criminal enterprise.

Probably the Russian mob. I heard they love to post keywords. LOL!

[SeaHawkFan]

A bunch of greedy rich people who bought the bad loans as investments losing their money is not going to lead to a recession. Those who borrowed the teaser loans will only suffer temporarily. Their lenders can’t afford to foreclose on properties that have lost a lot of value if they can reset the loans so the borrowers can stay in the properties. They will just need to readjust their expectations on the return on investment.

Of course, there are many borrowers who had no business being approved of the loans they got. In the short term, they should have been renters until they had a larger down payment.

The investors in RE loans have only themselves to blame for the money they are losing.

[Petronski]

Dig this thread!

It’s got everything: russian mob, wire fraud, conspiracies, nutbars, groundless accusations, reckless insinuations, blogpimps, vultures, Tom Joads and giant talking chickens.

[InvisibleChurch]

good business plan, pal...lending $$$ to people who can’t afford to pay it back

[InvisibleChurch]

good business plan, pal...lending $$$ to people who can’t afford to pay it back

[Toddsterpatriot]

Which one is the chicken?

[Petronski]

See #39.

[Toddsterpatriot]

I forgot that one. LOL!

[Petronski]

I’m not sure, but I think the mod added the picture in the story portion of the thread. Hilarious!