Former CountryWide Execs start new subprime company

Discussion in 'Economics' started by PragmaticIdeals, Jul 29, 2009.


    So these guys created and distributed the toxic assets, and now they are going to use their 'expertise' to repurchase the assets at 30 to 50 cents on the dollar (probably still won't get much of a return) and re-possess the real estate and liquidate it?

    a) If this works, this is predatory finance at its finest.

    b) It probably won't work (karma).
  2. so i see..........................
  3. just did a search on something and ran across this dead old thread. I know 2 guys who personally work there who were from CFC. they told me they were basically printing money out pennymac (the name of the new company)
  4. The IndyMac/OneWest/FDIC video is factually incorrect, in a variety of ways. It's not just me saying that. It's been pointed out by a variety of serious people who follow the housing mkt, including CalculatedRisk etc.