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
Essential Tips for Investing (Sponsored)
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
