I say Trump.
I got an email today from somebody. Great business idea. Unfortunately, below his signature was this quote:
If you’re going to be thinking, you may as well think big – Donald Trump
Let me translate…if you want to get rich, screw your common shareholders…twice.
I am speechless and not investing.
As much of an overcooked leathery snake Mozillo is; I have a feeling you are rooting for the man with the comb-over red squirrel on his head, in the race to oblivion.
But the bankruptcies, beyond those 3, will be coming fast and furious at some point this year and that will mark a time to get long.
Let’s not forget using the power of “government” to further his ends. Remember the little old lady that Trump tried to get out of her property with an “imminent domain” tactic, so he could expand his casino? Nice lawsuit, the lady won that one, but think how many others the slimy bastard got away with (either lost their suits, suits thrown out, not fought because “why fight city hall?”)
I agree it’s Trump, the financing contagion is spreading from housing to other areas of real estate, he might be too leveraged to survive it.
CFC seems to be racing it’s way to the bottom, but is more likely to benefit from some sort of government bailout, styled after the Resolution Trust Corporation after the 1990 savings and loan debacle. The RTC bought a lot of distressed properties from the S&L’s and then slowly sold them. The S&L’s did recover.