Ernie Montague

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FBI Investigating Countrywide

Would not surprise me to see Countrywide go under this month. I also receive interest checks monthly from CFC bank unit and this month's is a week late. I expect I will end up using the FDIC insurance to get my money back.
Mar 09 11:10 am |Rating: 0 0 |Link to Comment |View article
My 2008 Predictions for Financial Catastrophe

I'm stocking up on popcorn and couches.
Jan 29 11:24 am |Rating: 0 0 |Link to Comment |View article
BoA Buys Countrywide - Implications for Main Street

The government probably forced BofA to buy CFC, or actually gave them so many assurances that it became a good deal.
Jan 13 12:04 pm |Rating: 0 0 |Link to Comment |View article
The Real Story on Countrywide, Cont.

No doubt, the fed would not let the largest originator in the US tank. And they cajoled BofA to do this. And helplessobserver sees the issue, MBIA will not go under either.
Jan 11 10:37 am |Rating: 0 0 |Link to Comment |View article
Market Does Not Believe Countrywide's Denial of Bankruptcy Rumors

Big company, big infrastructure, lots of income. It may go the way of Lucent, down to 93 cents and back up again. Don't write off CFC yet. There were 164 million shares that traded hands today. All of them had willing buyers.
Jan 09 21:36 pm |Rating: 0 0 |Link to Comment |View article
Countrywide's FHLB Bailout

As mentioned CFC owns a bank, and they are currently selling 5.5% CDs, an interest rate almost a full point higher for 1 year CDs than any other FDIC bank in the US. It is no secret the hundreds of millions in deposits the high rates are garnering are propping up the parent company. Yet another Fed funded bailout, and a legal way for CFC to gamble with Fed money.
Nov 28 13:27 pm |Rating: 0 0 |Link to Comment |View article

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Jim Cramer's Picks -
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Better Choices - Cramer's Lightning Round (10/15/08)

by SA Editor Rachael Granby

Stocks discussed in the lightning round session of Jim Cramers Mad Money TV program,
Wednesday, October 15.

Bullish Calls:

Continental Resources (CLR) -- "This is a remarkable decline. All of the high quality ones are down so much, I can't go against it. This is where you pull the trigger.
3M (MMM) -- The moment this stock starts yielding 5%, I'm a buyer. Until then, keep your powder dry.

Bearish Calls:

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Annaly Mortgage (NLY) -- I think this is a business model that needs to borrow money. Definitively do not buy."
Northrop Grumman (NOC) -- You can't own the defense stocks right now. If I had to own one, I'd look at Lockheed Martin (LMT) with its good dividend.
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