Monday, June 16, 2008

Trust Us


Who in their right mind would give over $10,000 to Countrywide for a year in exchange for $10,260 June 2009 dollars? (Remember the interest is taxed at regular rates?

25 comments:

Casey Serin said...

Certainly not me... because I have the inside connection to a guy promising a 5% monthly return with a $200,000 minimum investment. Just secretly took out a second mortgage on my parents' place to cash in.

Sweet, juicy passive income!! ;-)

Santa Flipper Clause said...

Ho Ho Ho, It's Santa Flipper Clause

Santa would rather spend it at the titty bar. At least the recipients would be much more deserving, and, probably spend it better.

Santa F. Clause

Akubi said...

@Santa Flipper Clause,
Casey's pal Laura Richardson has a desrving titty bar for you.

Akubi said...

Dawg,
Don't you live near a golf course of sorts?
Thoughts on this latest game?

H Simpson said...

Westlund has as much chance of getting his money plus the 15.5% interest back as the Lakers taking the title.

Richardson seems to be KC with a pair of breasts. Take, take take.
Hey nobody is going to hold you responsible..

It is going to be SRO in Hell by the time this debacle ends.

h.

H Simpson said...

By the way Dawg, you may remember last year we discussed that Mass was putting in a new law that consisted of a 90 day cooling off period for foreclosures, basically giving deadbeats an extra 3 months of living for free.

Well the results are coming in and the group who pushed this law are calling it major success as foreclosures are off by 92%.

anyone want to bet the number spikes and reverts to mean in 12 weeks?

Hey, it's all good

h.

Lex said...

Countrywide will gladly pay you Tuesday for a hamburger today.

Rob Dawg said...

Reverts to the mean? Hell, between the moral hazard, financial impact and the need to teach the Commonwealth a lesson in the limits of power I expect a doubling. Think about it. Not only backloading 3 months worth of expected foreclosures but a slew of people who take advantage. But the last, lesson tyeaching will be the surprise. you can bet that the lenders are going to use this time to get caught up and get as many loans as possible filed aas soon as possible. New prardigm; 90 days plus 1 equals NOTS.

Peripheral Visionary said...

I trust Countrywide. Just look at their VIP clients, with clients like that, what are the chances the government would let them go bankrupt?

Casey Serin said...

I trust Countrywide. Just look at their VIP clients

I got the "Friends of Angelo" VIP treatment from Countrywide... it's a good thing Angelo and I are friends, otherwise we'd have little to talk about when we're spending 10 years together in a cell! :-p

H Simpson said...

If you want to score big on your investment, the heck with CW.

You need this babe to do it for you.
http://www.youtube.com/watch?v=uAvNGZEsLQM&feature=related

Hey, if I am going to get screwed, might as well be first class... :>)

h.

soem dood said...

Friends of CW?

Ah, you must mean this guy:

http://elections.foxnews.com/2008/06/17/dodd-denies-preferential-treatment-by-controversial-mortgage-lender/

Santa Flipper Clause said...

Ho Ho Ho, It's Santa Flipper Clause

Good find Akubi

Santa F. Clause

Jean ValJean said...

They Caught Shitweasel!

No, not THAT Shitweasel... THESE Shitweasels:
FBI AGENTS ARREST EIGHT DEFENDANTS CHARGED IN ELABORATE MORTGAGE FRAUD SCHEME
Yesterday in Dallas federal court, the U.S. Attorney's Office unsealed a 71-page, 51-count indictment against 11 people the government claims defrauded banks and mortgage lenders out of millions of dollars.
All 11 defendants are charged with conspiracy to commit wire fraud and all are charged with criminal forfeitures. All are charged in various substantive counts, including wire fraud, bank fraud, money laundering and engaging in a monetary transaction with criminally derived property.

Casey Serin said...

Amazing... they go after a party of 11 people who racked up $4.5 million in stolen funds, yet won't go after a single person who racked up around half that amount.

California is so screwed. Thanks to guys like me!! :-)

H Simpson said...

Sorry Casey

but every time the FBI knocks on the door of a house you said you were suppose to be living in, they find out that residence was foreclosed and you actually never lived there.

Sort of like Wrigley Field in the blues brothers

soem dood said...

Even white-hot SF area is getting hit, finally...




SF Bay area median home price, sales slide in May

The median price of a home in the San Francisco Bay area tumbled 21.7 percent in May to the lowest level in nearly four years, a real estate research firm said Wednesday.

DataQuick reported the median home price in May plunged 26.7 percent to $370,000 in a six-county region of Southern California.

Despite increased sales of foreclosed homes, overall home sales in the San Francisco Bay area notched their slowest pace for any May in DataQuick records, which go back to 1988

http://www.businessweek.com/ap/financialnews/D91CLTT80.htm

Akubi said...

Other ways "California is so screwed" -
He's a brain-damaged murderer, in a persistent vegetative state, and since December it's cost the state more than $831,000 – about half in officer overtime – to guard and care for him.

serinitis said...

@Akubi

Are you sure he's not bluffing. He could be just taking an extended powernap

H Simpson said...

Looks like the FBI is knocking on a lot of doors

http://money.cnn.com/2008/06/19/real_estate/mortgage_fraud/index.htm?cnn=yes

Casey, best get in that p.o.s. Jetta and drive to your pals in Sydney. The FBI will not look for you there because they are smart enough to know you cann't drive to Australia.

w said...

When you go into Countrywide for the CD just tell them you are a "friend of Angelo" to get the insiders rate. 3.90% is for the chumps.

soem dood said...

They just knocked on a few more doors this morning!

Former Bear Stearns Fund Managers Arrested by FBI
June 19 (Bloomberg) -- Bear Stearns Cos. former hedge fund managers Ralph Cioffi and Matthew Tannin were taken into custody at their homes this morning over their roles in the collapse of two funds that ignited the subprime mortgage crisis last year.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aZjI.EgNDuFQ&refer=home

Aaron said...

I just saw that. Too bad Casey won't end up in that mix of dirtbags.

soem dood said...

Wow, and maybe even a whole bunch more to come....

C'mon Casey! We know you can make the big time!

Officials say "Operation Malicious Mortgage" has led to the arrests of 406 people in a total of 144 cases across the country. FBI says the sting netted 60 people yesterday alone in places like Chicago, Miami and Houston.
http://www.wwsb.com/Global/story.asp?S=8524688&nav=menu577_1

soem dood said...

"Still searching for a bottom in the housing crisis"

"Bears warn the rebound could be eight years away"

By Janet Morrissey
June 9, 2008


http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20080609/FREE/597050890/1109/AnniversaryIssue&ht=morrissey%20morrissey%20morrissey