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Buffett To Rescue Countrywide
Thank goodness for billionaire Warren Buffett.
Got a company that is going under? Call him. Maybe he’ll buy it.
That’s the sentiment on the Street today after the WSJ wrote about the possibility of Buffett “saving” Countrywide from itself.
Some sarcastic comments from a poster named deucesuppity on the Countrywide Yahoo Message Board echo many people’s sentiments about Mr. Buffett’s possible “savior” role:
buffet 2 buy cfc as well as all 30 dow stocks and will be chipping away at nas 100.
Yes- you know people are pretty desperate when they turn to the billionaires as the only possible bailout.
Buffett HAS done some bailing out in the past, however. So it’s not totally out of the realm of possibility. But why is Countrywide attractive at $21 a share? He would have been buying at $15 a share which it was last week.
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Mom and Pop Investors LLC is an independent publisher. Mom and Pop Investors LLC is not a registered investment advisor. Please consult your investment professional before making any investment decision. Sources of information are deemed reliable but they are in no way guaranteed to be complete or without error. The Editor may have positions in and may from time to time buy or sell any security mentioned herein. Past results are no guarantee of future performance.