Talk of some businesses going under due to the mortgage and credit crisis was going on months ago, in anticipation. Now it's time for it to get adjusted to and inked. No big deal. The process will look much better by late 2008. No bad recession, just slowing down to fix problems. Looks like Countrywide took nails in the boot. Zaio is still in canvas sneakers, which may be a saving grace in this correcting market. Someone should buy them out if they have something as valuable as they keep claiming their lender advisors say they have. It seems their current leadership/system can't make many sales of the Zaio 2055 year after year, and factors associated with "why" need resolution. At some point the water has to be cleaned and oxygenated or the fish die. Zaio has been at this game for several+ years now and makes big claims about what the prospective clients say, so here in early 2008 I think everyone just wants them to shut up and do something for the sales column (and send paychecks to the appraisers). A proper buyout might be exactly what the zookeeper ordered.
Well BofA inked the deal, bought CW with stock. The mortgage/
subprime mess reminds me of musical chairs. As long as the
music played, everyone was having a good time. But when the
music stopped a few chairs were taken away, the subprimers
and derivatives pros came up short. I wonder what lesson
I am amazed at the fact that people in this forum would wish bad things to other in the profession. I think that this only adds to the fragmentation of the industry. If I was the moderator, I think that at a minimum I would suspend people who make these kind of statements. Who I do work for and what I charge is my business, period. Why didn't the poster just say I hope that they get cancer and die work for XYZ company. To wish bad things to people because of who they do work for and what they charge just not right.