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Comments
Posted by DrederickTatum, Jul 21, 2008 12:27PM
Thain embraces the head of Merrill Lynch's Mortgage Backed Securities Desk.
Posted by Lowly Assistant, Jul 21, 2008 12:28PM
Yeah, remember that night I fucked you in the pet cememtary?
Posted by guest, Jul 21, 2008 12:31PM
"So tell me was Walt really frozen, cause I'd like to get on that train until this mess is over"
Posted by guest, Jul 21, 2008 12:31PM
"So tell me was Walt really frozen, cause I'd like to get on that train until this mess is over"
Posted by guest, Jul 21, 2008 12:49PM
Hey smart ass's i know that thus far this monday we have covered 4 or 5 of the deadly sins so i have a question about the orangest of orange deadly sins..
Could BofA have taken over CFC but NOT gurantee the public debt of CFC?
On the call this morning this was the response to a question about the public debt of CFC.
"we don't intend to guarantee the public debt but we understand the ramification of not paying".
Posted by DrederickTatum, Jul 21, 2008 1:03PM
@12:49 - In a word, yes. CFC is now a wholly-owned subsidiary of B of A. Its your prototype drop-down, triangle merger. All of CFC's liabilities are contained to its shell corporation, Red Oak Corporation.
B of A got an insane deal on the CFC merger. The entire purchase price produces an tax savings basically equal to the purchase prise of 2 Billion... so B of A sort of got CFC for free. Down the road, B of A can spin-off (or usurp) the mortgage serving division or other valuable parts of Countrywide. In the meantime, CFC's old liabilities (i suspect) will be left to die in the Red Oak shell.
This is my understanding. Admittedly, I would defer to Dealbreaker editor and former-Skadden wonderboy, John Carney... I'm pretty sure his grades in law school were higher than mine.
Posted by guest, Jul 21, 2008 1:09PM
Yes we know Wall St. is run by a bunch of Mickey Mouse bankers!
Posted by guest, Jul 21, 2008 1:22PM
I want to do to you what I did to the bonus pool by hiring Montag
Posted by Anal_yst, Jul 21, 2008 1:31PM
wtf is up with merrill and fictional characters? The pic on lolstreet with stan & the muppets, the actual muppets on their website a few months back, and now Thain getting ready to sodomize an unsuspecting minnie mouse? Seems to be a trend here....
Posted by guest, Jul 21, 2008 1:36PM
I told you we are all family here. Allow me to fill the holes in your cheese.
Posted by chad, Jul 21, 2008 1:58PM
"Oh, my God. Minney? It's a small world
when you got unbelievable tits."
Posted by guest, Jul 21, 2008 2:09PM
JT: I heard you left Mickey. Is that true?
Minnie: Yes, I left him last week. He phucked Goofy.
Posted by guest, Jul 21, 2008 3:30PM
Drederick, I was going to second yours until you revealed that you went to law school.
Posted by guest, Jul 21, 2008 4:15PM
We finally have our first look at the $40 million hire from Goldman, Tom Montag.
Posted by guest, Jul 21, 2008 4:20PM
Thain finally collars the perp who stole his daughter's tiara and computer.
Posted by guest, Jul 21, 2008 4:51PM
'I CAN'T BELIEVE THE BOARD OF DIRECTORS IS REPLACING ME WITH A CHICK!"
Posted by guest, Jul 21, 2008 6:46PM
The plastic surgery really looks good Stan! But no you cant have an office here.
Posted by michange, Jul 21, 2008 9:28PM
Look, Minnie, you don't want the both of us to end up like Eliott and Ashley, right?
Posted by FUNdamental, Jul 22, 2008 11:06AM
hey john,
I didn't even know mickey was ill, but everyone keeps saying that you're in charge of his operation?





Posted by guest, Jul 21, 2008 12:25PM
When you wish apon a star...