From Americablog:
The Bush economy comes home to roost. The formerly go-go sub-prime market's crashing down -- and one bank's woes are roiling customers.
Anxious customers of Countrywide Bank jammed its phone lines, branches and website after the nation's largest mortgage lender -- which owns the bank -- announced it was facing problems from a credit meltdown."Countrywide Financial Corp., the biggest home-loan company in the nation, sought Thursday to assure depositors and the financial industry that both it and its bank were fiscally stable," wrote the LA Times Friday. "And federal regulators said they weren't alarmed by the volume of withdrawals from the bank.""The rush to withdraw money -- by depositors that included a former Los Angeles Kings star hockey player and an executive of a rival home-loan company -- came a day after fears arose that Countrywide Financial could file for bankruptcy protection because of a worsening credit crunch stemming from the sub-prime mortgage meltdown," the paper continued.
2 comments:
ya that trickled down shit works like a charm. lol. when will americans learn???
King George wants to keep the American people ignorant. Those who understand the game will survive. And those who don't will get hosed.
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