Tuesday, January 8, 2008

US markets declining fast as countrywide may seek bankrupcy protection !

Countrywide Loses Most Since 1987 on Funding Wagers (Update3)

Countrywide one of the biggest US home loan providers is rumoured to be planning for bankrupcy. Its certainly spooked the US the Dow fallen over 150 points in less than 1 hour. This will not bode well for UK banks its uncertain whether there will be further writedowns credit is tightening up day by day.

Posted by doomberger @ 08:04 PM (353 views)
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