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Corporate Bond Risk Rises as Bankruptcy, Default Fears Spread

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mrmonsoon

posted on Aug, 15 2007 @ 01:25 PM
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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.

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If Countrywide goes belly up, I guess it really is a problem.

Will they?

What will happen if it does?

Should the Government bail them out??



 
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