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- Oh Countrywide, Is That Your Ghost?
Oh Countrywide, Is That Your Ghost?
by Karl Denninger Market-Ticker.org
Bear Stearns is not the banking system — it is contained.
Subprime is contained.
“We’re gonna OWN subprime lending — Mozilo”
Uh huh.
Who remembers me over on the Countrywide Yahoo finance forums back in 2007 before it all blew — when I was shorting into price ramps on that stock because from where I sat they were a zero. They were a zero. It was a nice trade.
Who remembers me calling out WaMu in early 2007 when they were paying dividends with money they didn’t have, and regulators did nothing? That article is still here, if you look for it. They were also a zero.