- This topic has 5 replies, 6 voices, and was last updated 16 years, 8 months ago by Bugs.
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September 8, 2007 at 8:21 AM #10209September 8, 2007 at 8:54 AM #83858JWM in SDParticipant
The thing that bugs me is the blatancy of it all. This will make Enron look like small potatoes. Its almost as though Ken Lay taught these bastards like CEO Godzilla what Not to do if you are going to rip off the shareholders and retail investors. There are going multitudes of class action lawsuits flying.
September 8, 2007 at 12:02 PM #83866CoronitaParticipantI'm sure you're also going to have all the former countrywide employees screaming bloody murder when there stock/options are worthless, and there 401k which they elected to buy company stock tanks., just like enron employees. Of course no one complains when things are going up.
Sorry, if folks don't diversify and get burned, it's no one else's fault but themselves. Case in point, I'm 70% long equities. And when,if a recession hits, I'm not going to be blaming anyone if I take it in the shorts. Or, maybe I should ask for a bailout too.
September 8, 2007 at 1:11 PM #83872kev374ParticipantI believe THIS is the New York Times article he is referring to. There is no doubt in my mind that Countrywide fully participated in fraudulent activities to increase bottom line.
September 8, 2007 at 1:20 PM #83874eyePodParticipant“There is no doubt in my mind that Countrywide fully participated in fraudulent activities to increase bottom line.”
I guess we don’t need a judiciary.
September 8, 2007 at 2:14 PM #83878BugsParticipantI can tell you that a lot of appraisers – who have as close an inside view as is possible without being an employee – fully agree that CW played the shell game just as agressively as Ameriquest and New Century.
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