Countrywide Financial: More Bad Countrywide News, Countrywide Bankruptcy Ahead
Filed under: Business, News | By: Roy
Posted on: August 16, 2007 | No Comments
Its more bad new for Countrywide Financial as fears of a Countrywide bankruptcy causes shares in the Countrywide bank and mortgage lender to fall another 16% today.
Countrywide Financial is the biggest mortgage lender in the USA and today Countrywide Financial said that it had got $11.5 billion in emergency loans in an attempt to stop a full blown Countrywide bankruptcy.
The Countrywide bank received loans from the 40 biggest largest banks to finance this rescue package.
This move by Countrywide Financial comes just one day after many bad headlines were flying around including one about a possible Countrywide bankruptcy
Can Countrywide Financial calm the fears in the market with this move?
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