Thanks to the miracle of really stupid lending, Countrywide Financial is rapidly morphing from a mortgage lender to a residential real estate investment trust.
CFC now has $2.1 billion in foreclosed houses for sale. That's getting up there near the nation's largest home builders, whose business is to sell houses. They each carry $5 - $10 billion in inventory.
Will CFC surpass the home builders to become the nation's largest residential real estate owner? Time will tell -- if CFC can stay liquid that long.
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UPDATE: Edited to remove the guy's name. I hope nobody harasses him or his employer. He was good-natured and his sign was innocuous a... -
Body Count goes to Vegas! Ernest Scherer III was a Vegas loser who fancied himself a professional poker player. Doesn't that photo tell ...
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