Cfc

[james_gsx]

Could it be the next "Smartest Men in the Room Part Two"?

I know how it negative it would be of me to want that to happen. But I can't help it, it would be so exciting... kinda like a huge crash. Maybe I should talk to the trading doctor about this.. haha

Anyways, thing's aren't looking good and I have a feeling they won't turn out so well. Any thoughts?

[Nick1984]

Fill me in on this a bit. Gotta blame my ignorance on geography here hehe. Who is CFC and why are they in peril?

[darthtrader]

Countrywide...
I don't know. When I worked as a loan officer you couldn't touch their rates, and the worse a person's credit was the more impossible it was to touch.
It sounded like as part of this credit line they are done with sub prime, alt a and jumbo loans.
When the arms start resetting they easily have the most risk on the table of anyone. The founder hasn't been able to sell his stock fast enough for the last 6 months:
http://finance.yahoo.com/q/it?s=CFC

I bought jan 08 $20 puts in december but then sold them once I made some because I thought I had gone too deep OTM.... I'm pissed at myself for not doing more research because them and all the junk subprime lender stocks were pretty obvious plays to buy leaps against after the bank i was working for that was private ditched the whole mortgage side and just went to car loans. From talking to people looking to refinance you could tell how it went from bragging about their property value in jan 06 to desperation in nov 06.