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From Bloomberg: Countrywide Loses Most Since 1987 on Bankruptcy Bets
Countrywide Financial Corp. dropped the most in two decades on the New York Stock Exchange amid speculation the largest U.S. mortgage lender will file for bankruptcy.
``There's some sort of rumor that they would go under, but it's purely a rumor,'' said Thomas Garcia, head of trading at Thornburg Investment Management, which oversees about $50 billion in Santa Fe, New Mexico.
From Reuters: Countrywide Financial denies bankruptcy rumors
"There is no substance to the rumor that Countrywide is planning to file for bankruptcy, and we are not aware of any basis for the rumor that any of the major rating agencies are contemplating negative action relative to the company," Countrywide said in a statement.
Just another false CFC bankruptcy rumor.
Posted January 8th, 2008 by Armen Hareyan
