From the Wall Street Journal:
“‘I’ve never seen a soft-landing in 53 years, so we have a ways to go before this levels out,’ Countrywide CEO Angelo Mozilo said on a Tuesday conference call. ‘I have to prepare the company for the worst that can happen.’”Of course, we all learned that Washington Mutual announced late last week that it sold it's entire government mortgage servicing business and a portion of conventional portfolio to Wells Fargo.
How else can you comment on that? Speaks for itself. We all can take MSM for what it is, but the proof-n-the-puddin' is not what is said (except for a transparent CEO at Countrywide), but rather watch what the CEO's and Corporations do!