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Ozzie.
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August 23, 2007 at 11:37 AM #10001August 23, 2007 at 11:42 AM #79806
bsrsharma
Participant“I don’t see a light here at the moment,” Mozilo told CNBC
That is strange too. CEO of the largest mortgage lender expressing utter pessimism.
August 23, 2007 at 11:42 AM #79935Participant“I don’t see a light here at the moment,” Mozilo told CNBC
That is strange too. CEO of the largest mortgage lender expressing utter pessimism.
August 23, 2007 at 11:42 AM #79958Participant“I don’t see a light here at the moment,” Mozilo told CNBC
That is strange too. CEO of the largest mortgage lender expressing utter pessimism.
August 23, 2007 at 12:00 PM #79818Ex-SD
ParticipantThere is a video link on MSNBC to an interview with Mozilo where he is talking about the effect of all of these problems on homeowners and he says: “equity is gone……….the tide is out”. He believes that this crisis is going to push the entire country into a recession and he damned well may be correct.
August 23, 2007 at 12:00 PM #79947ParticipantThere is a video link on MSNBC to an interview with Mozilo where he is talking about the effect of all of these problems on homeowners and he says: “equity is gone……….the tide is out”. He believes that this crisis is going to push the entire country into a recession and he damned well may be correct.
August 23, 2007 at 12:00 PM #79970ParticipantThere is a video link on MSNBC to an interview with Mozilo where he is talking about the effect of all of these problems on homeowners and he says: “equity is gone……….the tide is out”. He believes that this crisis is going to push the entire country into a recession and he damned well may be correct.
August 23, 2007 at 12:02 PM #79821HereWeGo
ParticipantWell, 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!
August 23, 2007 at 12:02 PM #79950ParticipantWell, 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!
August 23, 2007 at 12:02 PM #79973ParticipantWell, 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!
August 23, 2007 at 12:45 PM #79866Ozzie
ParticipantThat interview was his attempt to influence both a Fed funds rate cut and a lifting of the bar for conforming loans. Both of which will probably happen and will help CFC.
B of A probably made themselves a great deal. I’m sure their $2B will be worth $4-6B after they convert their shares in 12-18 months.
August 23, 2007 at 12:45 PM #79995ParticipantThat interview was his attempt to influence both a Fed funds rate cut and a lifting of the bar for conforming loans. Both of which will probably happen and will help CFC.
B of A probably made themselves a great deal. I’m sure their $2B will be worth $4-6B after they convert their shares in 12-18 months.
August 23, 2007 at 12:45 PM #80018ParticipantThat interview was his attempt to influence both a Fed funds rate cut and a lifting of the bar for conforming loans. Both of which will probably happen and will help CFC.
B of A probably made themselves a great deal. I’m sure their $2B will be worth $4-6B after they convert their shares in 12-18 months.
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