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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: David Jones who wrote (12202)	8/10/2003 7:33:00 PM
From: Elroy Jetson	Read Replies (2) \| Respond to of 306849

He's not factoring in the effects of 'easy come, easy go'. I think he factors it like this, "not my problem." Countrywide collects the origination fees and servicing fees while Fannie Mae / Freddie Mac / taxpayers collect the resulting loan losses.

To: David Jones who wrote (12202)	8/11/2003 3:39:59 PM
From: patron_anejo_por_favor	Respond to of 306849

Exactly...and it's no coincidence that his company would benefit from increased originations (the consequences of imprudent lending do not bother him in the least, which is why he is the 2nd most irresponsible CEO in real estate finance, trailing only Franklin Raines of FNM)... The game here is privatization of profits (via options grants to CFC execs like Modzilla) and socialization of losses (via eventual government bailout). Ultimately it's a wealth transfer scam from US to him.