Figure this stock will go down until they do what AIG and C did. Declare a 10 for 1 reverse split.
Then, the profits they make in the future will appear larger and help the company to recover equity lost in 2008-2009.
Seems overpriced at the moment with significant losses expected for at least a quarter. A double dip recession will send the company back to sub-$1. Mainly because the fed has pegged interest rates at 0% for the next 2 years.
And then we have 2012. A ton of variable rate mortgages will come due in early 2012 to early 2013, causing a major crash in the mortgage industry. Sell your house by winter.... Winter and spring are going to be horrible for the housing industry!!