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

Posted on 08/25/2007 5:59:22 AM PDT by Hydroshock

Edited on 08/25/2007 11:43:24 AM PDT by Admin Moderator. [history]

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1 posted on 08/25/2007 5:59:24 AM PDT by Hydroshock
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To: Hydroshock; Moonman62; ex-Texan

For his company at least he maybe right.


2 posted on 08/25/2007 6:00:13 AM PDT by Hydroshock ("The Constitution should be taken like mountain whiskey -- undiluted and untaxed." - Sam Ervin)
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To: Hydroshock

I suppose the bankrupcy lawyers see a giant boom ahead.


3 posted on 08/25/2007 6:02:44 AM PDT by proxy_user
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To: proxy_user

That and accountants to figure out this train wreck.


4 posted on 08/25/2007 6:03:25 AM PDT by Hydroshock ("The Constitution should be taken like mountain whiskey -- undiluted and untaxed." - Sam Ervin)
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To: Hydroshock

This guy loses his butt giving someone elses money away and that is supposed to reflect on the whole economy?

Sorry - I’m not biting


5 posted on 08/25/2007 6:03:29 AM PDT by spanalot
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To: Hydroshock

He seems a little Shysterish to me.


6 posted on 08/25/2007 6:03:59 AM PDT by Suzy Quzy
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To: Hydroshock
I saw him interviewed this morning and he said the opposite. "Though in 50 years Ive never seen housing go down without a recession...so far its defies the odds(paraphrase."

He said he was surprised that new housing was up and people werent less optomistic. In fact he said he had several large companies wanting to invest with him but he chose Bank of America.

7 posted on 08/25/2007 6:04:01 AM PDT by DainBramage
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To: Hydroshock

Well, his prognostications weren’t so hot when it came to predicting the future of the sub-prime market, back when he elected to jump in with both feet.


8 posted on 08/25/2007 6:06:11 AM PDT by Maceman
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To: Hydroshock
"The Fed has cut the discount rate and added liquidity to the markets but those things aren't enough to turn the fundamental market around," said Phil Orlando, chief equity market strategist at Federated Investors in New York. He said the funds rate should be cut to 4.25 percent by year end.

He's right. The yield curve never should have been inverted in the first place.

9 posted on 08/25/2007 6:08:07 AM PDT by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
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To: Hydroshock

Like he knows? To bad he didn’t see bankruptcy in the future and manage is company in a little more conservative manner.


10 posted on 08/25/2007 6:09:34 AM PDT by kjam22 (see me play the guitar here http://www.youtube.com/watch?v=noHy7Cuoucc)
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To: Hydroshock

1/12 of 1% of our economy... right... I see depression for this man’s company and a Capitalist picking up the pieces and making a fortune in the future.

LLS


11 posted on 08/25/2007 6:09:34 AM PDT by LibLieSlayer (Support America, Kill terrorists, Destroy dims!)
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To: Hydroshock

He’s crying in his soup. His statements are a desperate plea for the Fed to lower rates, in an attempt to save his own bacon.

Capitalism without bankruptcy is like religion without hell.


12 posted on 08/25/2007 6:10:45 AM PDT by SampleMan (Islamic tolerance is practiced by killing you last.)
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To: Maceman

The widespread use of investment money to fund mortgages is something new. There’s always a learning curve. Americans have always taken risks and jumped in with both feet. It’s messy but we always end up being leaders in the marketplace.


13 posted on 08/25/2007 6:12:11 AM PDT by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
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To: Suzy Quzy

I saw him on Cavuto’s show the other day. Didn’t I see him in “The Godfather?” Or was it “Goodfellas?”

He’s straight from central casting; shiny suit, pointy shoes, etc.


14 posted on 08/25/2007 6:12:56 AM PDT by Peter W. Kessler (Dirt is for racing... asphalt is for getting there.)
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To: ex-Texan; Eastbound

ping


15 posted on 08/25/2007 6:14:46 AM PDT by Calpernia (Breederville.com)
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To: Peter W. Kessler
I can't even remember what he looked like but he SOUNDED shysterish?

Are you the same guy that called Rush many, many years ago...an attorney?

16 posted on 08/25/2007 6:19:10 AM PDT by Suzy Quzy
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To: Hydroshock
Angelo should spend more time in his tanning and toning bed.
17 posted on 08/25/2007 6:19:12 AM PDT by Eric in the Ozarks (BTUs are my Beat.)
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To: Suzy Quzy

Nope. Different guy. I did get through to Rush once when he did a local show in NYC. That was a long time ago!


18 posted on 08/25/2007 6:22:48 AM PDT by Peter W. Kessler (Dirt is for racing... asphalt is for getting there.)
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To: Hydroshock

a “spread the misery” moment?


19 posted on 08/25/2007 6:23:42 AM PDT by xcamel (FDT/2008 -- talk about it >> irc://irc.freenode.net/fredthompson)
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To: Hydroshock
OF COURSE they do!
20 posted on 08/25/2007 6:34:23 AM PDT by Caipirabob (Communists... Socialists... Democrats...Traitors... Who can tell the difference?)
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