Countrywide Financial Shows Off $46.2 billion To Calm Mortgage Fears

In an attempt to calm the current mortgage fears that are rippling through the market, Countrywide Financial has issued a filing with the SEC showing $46.2 billion.

This $46.2 billion is in cash, credit lines and other investments and it is trying to show investors that everything is fine and Countrywide Financial will not be the next mortgage company to file bankruptcy, like American Home Mortgage.

However, the market is still worried about the shaky mortgage market and particularly in the sub prime area, which is hitting stocks as large as Bear Stearns and HBOS.

Do you think this $46.2 billion will be enough to convince investors that Countrywide is still a good investment?