The Sultan Of Slime Is At It Again

"Freak of Nature"
"Alien Predator in Subprime Slime"

Anyone who can sell 500 million in stock and have people believe that the company is ok must be a freak of nature. No one person is directly responsible for creating more personal tragedy in in the housing market debacle than the Freak of Nature pictured above. At the same time there is probably no one that profited more. (Sent in by reader Steve)

Just take a look at:
RDN
MTG
TGIC

You can thank Mozilo for the gap up in those stocks today. In three months you can also thank him for those companies filing for bankruptcy.

CFC Conference Call:

"Loans are now being funded through banking deposits because CFC can not obtain funding in the capital markets"

They are giving out loans from their bank assets and deposits. These funds are not unlimited and will eventually run into negative territory, when there is a run on their bank. I am sure that bank customers are happy that their money is being handed over to save home-owners who are close to bankruptcy. This is a recipe for disaster. I would take my money out of CFC as soon as I could if I banked there.