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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Paul Kern who wrote (85266)	8/17/2007 2:31:18 PM
From: Travis_Bickle	Read Replies (1) \| Respond to of 110194

Contact your broker's bond desk.

To: Paul Kern who wrote (85266)	8/17/2007 2:31:26 PM
From: John Vosilla	Respond to of 110194

Sorry no idea. I just trade stocks/options and buy real estate cheap<g> No way I go near those financial weapons of mass destruction

To: Paul Kern who wrote (85266)	8/17/2007 6:28:39 PM
From: Joe Stocks	Read Replies (3) \| Respond to of 110194

>>Countrywide debt..Any idea how we could go about bidding on it? << One easy way is to buy the preferred trust - CFCpA and CFCpB Yesterday I bought some as low as 11.05. That's about 44 cents on the dollar and an yield of about 15%. Of course you have the benefit of any upside on the stock. If interest rates are lower than 6.75% next year, CFC just might buy these from you at $25 each. Fortunately I had a nice gain on them. (BTW, use a limit order as the spreads can get wide) Countrywide Capital IV, 6.75% Trust Preferred Securities Ticker Symbol: CFC-A CUSIP: 22238E206 Exchange: NYSE Security Type: Trust Preferred Security SECURITY DESCRIPTION: Countrywide Capital IV, 6.75% Trust Preferred Securities, liquidation amount $25 per share, guaranteed by Countrywide Financial Corp. (NYSE: CFC), redeemable at the issuer's option on or after 4/11/2008 at $25 per share plus accrued and unpaid dividends, maturing 4/01/2033, distributions of 6.75% ($1.6875) per annum are paid quarterly on 1/1, 4/1, 7/1 & 10/1 to holders of record one business day prior to the payment date while the securities remain in book-entry form. Dividends paid by trust preferred securities are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 6.75% Junior Subordinated Deferrable Interest Debentures due 4/01/2033 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below. quantumonline.com