Banking, finance, and taxes
With Citigroup (C) and Countrywide (CFC) Down Again, No Sign Of Recovery
Published:
Last week’s trading might have been a bell weather for whether the market thinks the worst is behind some of the troubled financial institutions. But, as The Wall Street Journal pointed out, the number of variable rate subprime loans which will reset in 2008 has a total value of $362 billion.
Wall St. does not like the odds an improvement in the environment. It traded Countrywide Financial (CFC) down another 22% during the week, and Citi (C) another 10%.
As news hits the market about worsening numbers for mortages, it is safe to assume that the value of the pools of related instruments could take a sharper dive than they have already.
Citi is still in trouble and Countrywide may not make it.
Douglas A. McIntyre
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.