Thursday, September 13, 2007

Countrywide (CFC) Rally

It's largely due to word of an expansion of its credit lines: Countrywide secures $12 bln in borrowing capacity. That was after it disclosed a further slump in its mortgage applications.

So, who would give it another $12 bln to burn through. No names mentioned, but it wouldn't surprise me if Bank America's (BAC) fingerprints were found.

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