Well, he did say that CFC would claim more market share as a result of this mess, even if the market continues to contract. His outlook on the economy was definitely pessimistic, no doubt about it.
The most interesting piece of news was the rationale for selling stock to BoA rather than heading to the discount window. Apparently only the CFC bank can go to the discount window, not the mortgage arm. But the mortgage side of the business has all the assets that the Fed would accept at the discount window. Doh!
