posted on Aug, 15 2007 @ 01:25 PM
Credit-default swaps on Countrywide widened after Merrill Lynch analyst Kenneth Bruce raised the possibility that a loss of access to short-term
loan markets could force Countrywide into bankruptcy. Contract prices for mortgage lender Residential Capital LLC and for home-loan insurer Radian
Group Inc. are also trading as if investors see a high probability of default.Please visit the link provided for the complete story.
If Countrywide goes belly up, I guess it really is a problem.
What will happen if it does?
Should the Government bail them out??