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Guest The_Oldie

Countrywide's Net Declines 33 Percent On Home-equity

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Guest The_Oldie

http://www.bloomberg.com/apps/news?pid=206...&refer=home

July 24 (Bloomberg) -- Countrywide Financial Corp., the biggest U.S. mortgage lender, reported a third straight quarterly earnings decline and reduced its 2007 forecast because of an increase in late payments by borrowers with strong credit.

U.S. Stock-Index Futures Fall; DuPont, Countrywide Shares Drop

http://www.bloomberg.com/apps/news?pid=206...&refer=home

July 24 (Bloomberg) -- U.S. stock-index futures slid after DuPont Co. and Countrywide Financial Corp. reported profit below analysts' estimates, raising concern that the housing slowdown will restrain earnings growth.

DuPont, the third-biggest U.S. chemical maker, fell after reporting weakening demand for paint and kitchen countertops. Countrywide, the largest U.S. mortgage lender, dropped on its third straight decline in profit. Texas Instruments Inc., the biggest maker of mobile-phone chips, retreat

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Surprisng that anyone thinks Great Crash 2 somehow stopped at the Eastern seaboard of the US. :blink:

All (not some) countries that gorged at the credit trough and into miracle economics will pay handsomely.

There is, after all, no free lunch.

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Anyone who thinks the UK arn't heading for a Sub Prime collapse probably thinks David Smith is the UK's leading economist.

I mean come on 2m fixed rate mortgages to be reset in the next 18mths, not to mention BTL's already being sold for 30% to 40% off there purchase price in Colchester.

I TOLD YOU SO!

Edited by I Told You So

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