Tuesday, January 8, 2008
US markets declining fast as countrywide may seek bankrupcy protection !
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.