Quote:
Originally Posted by dissipate
Countrywide won't be going out of business anytime soon, they're not a sub-prime lender for the most part. All the sub-prime guys are going out of business right now as well as those idiots who were doing piggybacked first mortgages.
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Countrywide have lost 50% of their share value this year and also has been having difficulties selling short-term debt, hence harder to run its day-to-day operations. A lack of actual operating cash is enough to bring down any large corp. It's probable Countrywide will file Chapter 11 before this year ends, tho probably sooner since the home market has a long way down to go yet. Tho they won't be alone - plenty more like them.