User 121847

Countrywide's FHLB Bailout

Well, it is easy now to blame one company (CFC) now for all the mortgage security related issues. But reality of the fact is that everyone was making hay while the sun was shining. The mortgage lenders, the investors in the mortgage backed securities, the rating agencies and last but not the least the borrowers - who are now being made out to be naive, but actually were the most greedy.

That countrywide is able to secure credit in this market is the efficiency of their management. I do not see it as a bailout. They are using that money to make more loans. And that is their business - remember - take short term loans and make longterm mortgage loans with that credit.

Ugly Week Hits Tech Hardest

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