Bubbles Keep Burstin’
August 15, 2007 by John in Consumer, Household, Money
Subprime Meltdown: Countrywide, America’s Largest Mortgage Lender, May Have To File For Bankruptcy
“If enough financial pressure is placed on Countrywide or if the market loses confidence in its ability to function properly then the model can break, leading to an effective insolvency,” Bruce wrote. “If liquidations occur in a weak market, then it is possible for Countrywide to go bankrupt.”
I’ve been waiting to see this in the news. Countrywide is where I have my (FHA) mortgage.