I saw George Chowderhead on 7/39 this morning. Now I’ve never listened to him on the radio before, so I just usually see him every morning on the news, but today he blew me away. He is such a real estate whore.
He mentioned how AH Lenders would be down about 50% at the open today and that they’ve gone from a stock price of about $60 to around $6. He also said they’d likely have layoffs among their 2,700 employees.
Then he goes on to say that the subprime problems have really been overstated by the media and they are really only a wall street problem and not a mainstream problem (WTF?). The said that he expects that the subprime problems will have no significant impact on the housing and mortage markets.
Are you kidding me? How can he say this stuff? He’s separating Wall Street from reality. Like the stock price tumbles and bankruptcies and layoffs are only happening on Wall Street. Ya, sure George none of those things are effecting anything in the real world.
This guy needs to be canned. I’ve never seen such a biased reporter on any news program before.
