Wednesday, March 07, 2007

News you can't use

D.R. Horton CEO Donald Tomnitz said 2007 is going to "suck." What is this? The Lou Holtz school of management? I know all the home builders are trying to keep expectations down for 2007. But do you think they had a meeting about how blunt they could be? Did anyone consider hiring Gallagher to smash a watermelon with "2007" written on it?

In other non-news, Fitch has downgraded New Century's servicer rating. Are all the horses out now? OK good. Someone call in the ratings agencies to close the barn door. That seems to be what they're best at.

1 comment:

Anonymous said...

ratings agencies are as good as the brokers' equity ratings ... day late , dollar(s) short