Wednesday, March 4, 2009

Welcome back, welcome back, welcome back!

Mannywood has returned and not a moment too soon or to late for that matter. Just in time to let the Dodgers break into their new stadium without any Mannigans. (Like my new word?) All in all, I'm proud of the Dodgers management for staying the hard line and only offering the 2 years. Andruw Jones was a hard lesson learned, but hopefully we won't suffer another for a LONG time. No matter what, I'm sure that Manny will do well and that the Blue faithful will welcome him back with open arms. Hey, these are some of the same people who still actually like Kobe. But I digress...

Another person who is back to his old stomping grounds is a former top executive from the now defunct Countrywide. He's opened up shop in Calabasas with some of his old friends with a new venture called PennyMac. Turns out this new business buys mortgages that are in default for pennies on the dollar and then calls up the homeowners offering them reduced interest rates and better terms. The homeowner ends up being able to renegotiate for a monthly amount they can actually pay and PennyMac reaps huge profits since they bought the loan on the cheap. Now this all sounds wonderful and just picture perfect, but then again these are the same guys who put alot of these people into these bad loans in the first place. Very fishy...but don't take my word for it, read all about it here.

1 comment:

DJ Wicked said...

Come on Juice Stan's a good guy just check this great article on him:,features,stanford-kurland-author-of-sub-prime-crisis-returns-to-cash-in-with-pennymac