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6 comments

Date Votes
  • Alpine
    It's just some market people caught up in their own little world.

    Someone put a trade in and then took it back out.
    0
  • spryor
    I dunno. I've been trying to learn their language for years..and it's still jibberish.[;)]
    0
  • select-fire
    countryside was picked up by........ Bank of America..
    0
  • Colt Super
    Sig232 is a high powered financial guy,and I'm sure he'd be happy to explain it to you, if he sees the thread.

    If he doesn't answer, try emailing him, if you want to.

    Doug
    0
  • Marc1301
    It is simply "options" traders yacking!
    Some are reffering to "hedge funds", and NO,.......Countrywide was not picked up by BOA, they were "bailed out" with a very large investment by BOA.
    I believe 2 billion.
    They are now an "investor" in Countrywide Financial, so to speak![:D]
    0
  • bigdaddyjunior
    Country Wide, like all mortagage companies, always needs fresh capital to keep making loans. They did so many balloon type and interest only mortgages that their income payments could barely keep them flush enough to make new loans. It happens a lot. When they see a tight spot coming in the cash flow they borrow a few billion to keep them going until some of the balloon payments are due. Then they will see a sharp rise in revenue for a few months at which time they will either pay off the loans or lend out on more mortgages depending on the housing market, interest rates and what the Fed loaning rate is to the banks.
    0

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