Countrywide Financial Corp. headed for bankruptcy? Another mega savings and loans bail out?
Peter Oberois
Aug. 10, 2007

That will confirm the real financial meltdown. Mortgage bankers are now scared to loan against any real assets. Countrywide, the largest mortgage banker in the country now faces ``unprecedented disruptions'''' that may crimp profit, suggesting a credit crunch that started with the U.S. subprime market will spread.

The company is facing difficulty in obtaining financing from creditors. The liquidity crunch is real. Investors have stopped buying loans made to the riskiest borrowers, leaving hedge funds, banks, and securities firms unable to find accurate prices for their holdings. Simply put, the risky credit does not have a bid although it has countless offers – it is called an ideal condition for interest rate spike and junk bond or junk look alike corporate bond crash.

The net effect on the economy, stock market, and the real estate market is severe. The stock market will crash. Real estate transactions will come to a total halt and finally the economy will get totally depressed.

Some analysts believe companies like Countrywide Financial Corp. are headed for catastrophic bankruptcies. The question is will Federal Government bail them out like the saving and loan scam quadrupling the budget deficit?

A crash in global stock markets eminent after the total meltdown of corporate credit markets across the globe – what can you do?
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Right now gold market is worried for the liquidity crunch but in the long run a golden age is coming for the gold market.
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Countrywide Financial Corp. headed for bankruptcy? Another mega savings and loans bail out?
Peter Oberois
Some analysts believe companies like Countrywide Financial Corp. are headed for catastrophic bankruptcies. The question is will Federal Government bail them out like the saving and loan scam quadrupling the budget deficit?
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