The good news obscured by the headline:
Mortgage defaults are slamming the savings and loan industry, although thrifts should be able to weather the housing market downturn, federal regulators said Tuesday.
CFC is a thrift.
US regulator says watching Countrywide very closely
The Office of Thrift Supervision is very closely monitoring events at Countrywide Financial Corp and has had a consistent onsite examination presence at the California company since it converted to a thrift charter in March 2007, an OTS spokesman said on Monday.
Stocks to Watch: Capital One, Countrywide, KKR, Target, Viacom
Countrywide Financial's (CFC) stock fell 7.6% despite the company's attempts to reassure depositors that their funds were safe at the company's Countrywide Bank savings bank unit
My opinion? Countrywide will fall when Buffet says he's not buying.
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