Seattle Bubble Forum Archive

Any one care to guess how long it will be before Countrywide seeks banktruptcy protection?

I am betting between 30-60 days depending on the success of the spring bounce.

I don't care to guess.

I hope soon, because I've been shorting them for longer than I care to admit, but they're better capitalized than most. They could be one of the last big fish after most of the small fry get eaten, and perhaps have a decent long-term outlook with less competition.

Or they could get bought.

I think they will simply eventually take a bath, but I don't know about BK. That would be mighty sweet, from viewpoint, but the timing of any event is impossible to predict.

bili:

what do you think about shorting or a leap PUT on PMI?

My brother in law works for Countrywide financial. The money he has made the last 5-6 years is disgusting.

They have over 15 10,000 dollar Fujitsu plasma televisions in their 6 million dollar LA home. I have a feeling the good times may be coming to an end shortly however.

No offense to your brother Matthew, but I have to say, I once had a mortgage under country wide and I hated them. I hated their service, I hated everything about them. Of all the mortgage companies out there, I hope they collapse. Sorry, nothing personal, just mho.

Don't worry, I'm rooting for a collapse of LA in general. I was born there and love the city, but it has turned into a cesspool of everything materialistic and wrong in America.

My sister and bro-in-law personify the LA culture to a T. A readjustment of priorities would be good for them. IMHO.

Yeah, So Cal aint what it used to be. I brought my wife up here and she is a So Cal native. She doesn't miss california, she misses the old california. Those days are gone forever and Hell-A can drop off into hell for all I am concerned. And take Country Wide Rip Off with it.

I've had two mortgages with Countrywide and had a number of issues with both of them. Horrible customer service.