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Hedge Fund SRM Global Master Fund is buying more Countrywide [CFC
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] shares. The fund has boosted its stake from 32 million shares, to 47 million, or slightly more than 8 percent of shares. Most of the shares were bought in the last few days, at prices ranging from $4.83 to $5.69--so they've made some money, lost some money.
SRM thinks Bank of America [BAC
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] should pay more for Countrywide. In a couple of weeks, the Federal Reserve will be holding meetings here in Los Angeles on what the public thinks about the sale. I will be at those meetings. Should be interesting.
Meantime, Ray T. forwarded me this hilarious YouTube video on the current job market.
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