Countrywide's Bonds Reduced To Nearly Junk...

[DemocratSinceBirth]

Wow... I have friends and business associates who work for Countrywide...

[EST]

1. Although I realize, to a degree, what this economic fiasco means,

that awful, annoying Countrywide commercial can't disappear soon enough for me.

[DemocratSinceBirth]

2. Not As Bad As The DiTech Guy

[Bluebear]

3. Or LenoxFinancial "the biggest no brainer in the hist'ry of earth"

Jon Shibley

[DemocratSinceBirth]

4. I'm Not A Lenox Fan But That's A Clever Saying

Not as grating as "so easy a caveman can do it"

[stirlingsliver]

7. But THAT Is Better Than...

But that is certainly better than "so easy a therapist can do it".

;-)

[shain from kane]

5. They could save a fortune in advertising costs and stave off bankruptcy if they scaled back on those

commercials. You have to ask yourself, what have they gained that they wouldn't have achieved by other means?

[EST]

9. One wonders.

My understanding is that the commercial spots on cable/satellite are super cheap-as such things go-maybe, forty to eighty bucks a shot.
I can believe it can't be too expensive, given their virtual blanket, nearly every channel, most programs.
I usually figure it must be making them more money than it costs, otherwise, they would not bother.

[InkAddict]

6. Prepare to send flowers, an encouragement card...

and while you're at it, send over a few hand-fans until the weather breaks, then a load or two of Norwegian wood in preparation for winter, a stocked first aid kit, some quarters for the laundrymat, cleaning supplies, school supplies for the kiddies, food for the pets, and a few healthy edibles w/lots of APPROPRIATE LIBATIONS to those workerbees.

[DURHAM D]

8. On Tuesday I filled out a form for one of my employees

who is applying for a mortgage loan. I asked the loan broker who he was placing the loan with (although it is none of my business) and he said Countrywide. I asked him if he really thought the loan process would proceed on a regular schedule or wasn't he afraid that that Countrywide would announce within a few days that they were having the same problems as everyone else. The broker told me not to worry - Countrywide would be fine and there would be no delay.

I asked my employee later that day if he was aware of the turmoil in the home mortgage business and he said yes but he wasn't worried because the nice broker told him not to worry - there would be no delays or problems with his loan. I hope this does not end the way I think it is going to and instead, the results are more like what my faithful employee believes.

[OmmmSweetOmmm]

10. My mortgage was with Countrywide until 4 years ago. I refinanced through a local bank.

Very happy I did.

[Marrah_G]

11. countrywide stock (CFC) is down almost 16% today

[SoonerPride]

12. Has the housing bubble burst?

Remember wheneveryone was giddy about the endless profit potential and booming housing market?

Then it turns out all of that was floated on poor loans with no real constraints?

Does this remind anyone of 1929?

Beuhler?