This is a good post from Dennis Nguyen who brings up parallels of Enron's off balance sheet transactions at CFC. Notably, they are buying their shares back with debt (bonds), which equates to nothing other than propaganda. More and more skeletons are coming out of the closet. In the mean time, Mozillo and his cohorts continue to sell.
Please check it out:
http://blogs.marketwatch.com/greenberg/2007/03/playing_survivo.html
Something just doesn't add up.
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