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HereWeGo.
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August 16, 2007 at 6:46 AM #9895August 16, 2007 at 6:54 AM #76194
stansd
ParticipantI’ll go on record in agreement. I think they will weather the liquidity crunch. They’ll remain pretty beaten down as the fallout from the housing decline continues to make itself truly felt (they’ll probably require big layoffs and a reorganization to “right size” their business), but I don’t see them going bankrupt.
This board has some definite biases that always have to be remembered. If you look at the prices of credit default swaps on CFC, they have gotten much more expensive, but they are still placing the odds of bankruptcy as remote.
Stan
August 16, 2007 at 6:54 AM #76313ParticipantI’ll go on record in agreement. I think they will weather the liquidity crunch. They’ll remain pretty beaten down as the fallout from the housing decline continues to make itself truly felt (they’ll probably require big layoffs and a reorganization to “right size” their business), but I don’t see them going bankrupt.
This board has some definite biases that always have to be remembered. If you look at the prices of credit default swaps on CFC, they have gotten much more expensive, but they are still placing the odds of bankruptcy as remote.
Stan
August 16, 2007 at 6:54 AM #76315ParticipantI’ll go on record in agreement. I think they will weather the liquidity crunch. They’ll remain pretty beaten down as the fallout from the housing decline continues to make itself truly felt (they’ll probably require big layoffs and a reorganization to “right size” their business), but I don’t see them going bankrupt.
This board has some definite biases that always have to be remembered. If you look at the prices of credit default swaps on CFC, they have gotten much more expensive, but they are still placing the odds of bankruptcy as remote.
Stan
August 16, 2007 at 7:02 AM #76206capeman
ParticipantObviously you didn’t see the news release this morning. They’re buying time at this point. It’s just a matter of whether BC will come before my Sept. Puts expire or will I have to buy some Octobers. It’s all happening much quicker than I though it would.
August 16, 2007 at 7:02 AM #76325ParticipantObviously you didn’t see the news release this morning. They’re buying time at this point. It’s just a matter of whether BC will come before my Sept. Puts expire or will I have to buy some Octobers. It’s all happening much quicker than I though it would.
August 16, 2007 at 7:02 AM #76327ParticipantObviously you didn’t see the news release this morning. They’re buying time at this point. It’s just a matter of whether BC will come before my Sept. Puts expire or will I have to buy some Octobers. It’s all happening much quicker than I though it would.
August 16, 2007 at 7:31 AM #76209ParticipantHadn’t seen that yet-think it came out within a few minutes of my post.
I’ve walked the plank now…still think they’ll weather it (options still not pricing in real high odds of BK, TBTF, liquidity will ease up), but I wouldn’t seek a loan from them at the moment:)
Stan
August 16, 2007 at 7:31 AM #76328ParticipantHadn’t seen that yet-think it came out within a few minutes of my post.
I’ve walked the plank now…still think they’ll weather it (options still not pricing in real high odds of BK, TBTF, liquidity will ease up), but I wouldn’t seek a loan from them at the moment:)
Stan
August 16, 2007 at 7:31 AM #76330ParticipantHadn’t seen that yet-think it came out within a few minutes of my post.
I’ve walked the plank now…still think they’ll weather it (options still not pricing in real high odds of BK, TBTF, liquidity will ease up), but I wouldn’t seek a loan from them at the moment:)
Stan
August 16, 2007 at 7:40 AM #76215aztecnology
ParticipantCFC is done, down 30+% in 24 hours, bankruptcy on the horizon.They are no longer doing jumbo loans, and only conforming that they can sell to freddie and fannie…
August 16, 2007 at 7:40 AM #76334ParticipantCFC is done, down 30+% in 24 hours, bankruptcy on the horizon.They are no longer doing jumbo loans, and only conforming that they can sell to freddie and fannie…
August 16, 2007 at 7:40 AM #76336ParticipantCFC is done, down 30+% in 24 hours, bankruptcy on the horizon.They are no longer doing jumbo loans, and only conforming that they can sell to freddie and fannie…
August 16, 2007 at 7:45 AM #76218ParticipantThat last post says it all. Only conforming means pretty much all 80-90% of the business they’ve been doing the last couple of years is gone. Couple that with having so many REOs on the books (many more to come!) and having to deal with the paper coming back they will be BK within 2 months and likely right about 1 month from now.
August 16, 2007 at 7:45 AM #76337ParticipantThat last post says it all. Only conforming means pretty much all 80-90% of the business they’ve been doing the last couple of years is gone. Couple that with having so many REOs on the books (many more to come!) and having to deal with the paper coming back they will be BK within 2 months and likely right about 1 month from now.
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