Here is the news from National Mortgage News(ZT)

来源: CALoanAgent 于 2007-08-17 23:30:51 [] [博客] [旧帖] [给我悄悄话] 阅读数 : (809 bytes)

National Mortgage News ad salesman Jim Israel
was driving in Pasadena last Thursday. Jim
noticed a crowd of about 40 outside a Countrywide
Bank branch there.

He assumed it was a protest of some sort.
As it turns out, it was a run on the bank.
In case you're wondering why the Federal
Reserve cut the discount rate Friday morning
there is a one word answer: Countrywide.

The Fed realized this: not only does Countrywide Financial Corp. own a large thrift ($60 billion in liabilities) but it services $1.4 trillion in home mortgages, ranking first with a market share of almost 16%. (Figures, courtesy of the QDR).

Fed chairman Ben Bernanke had to be thinking this:
if something happens to CFC think about its 8.9 million residential servicing customers.

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