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How long until Countrywide Bank goes bankrupt?

I don't know how Countrywide can seriously say that they are "on your side." They're a bank that engages in fractional-reserve banking, which means that they only keep about 10% of the money deposited in the vaults and give away the rest. The banks are basically committing fraud on a massive scale (such as how the government has given a bank cartel it created known as the Federal Reserve the power to create money out of thin air to buy junk investments with) Thomas Jefferson recognized exactly how dangerous banks are. He was quoted as saying "Banking establishments are more dangerous than standing armies" and that was definitely saying something (especially if you remember how dangerous the Redcoats were). How long until this bank goes bankrupt? sources: http://www.lewrockwell.com/rothbard/rothbard163.html http://video.google.com/videoplay?docid=-466210540567002553 http://en.wikiquote.org/wiki/Thomas_Jefferson#On_financial_matters

Public Comments

1. Soon. Countrywide has a huge housing loan portfolio. They buy back their fanies and freddies. They are heavily sunk in community lending FHA and low income housing. If a Dems gets elected they will bounce back. But as long a the republican war on the poor continues, they are doomed.
2. soon..they made loans to people would couldn't afford their mortgages..so I don't think that the government should bail them out
3. I, an old retired real estate investor ( NOT A DAMNED ABLE REALTOR), believe that the paperwork is in the mill right now, and there was an article in Thursday's or Friday's papers about them. YES THE MORTGAGE INDUSTRY HAS PROSTITUTED THE HOME FINANCING MARKET, ALONG WITH ABOUT 97.83 % OF THE MORTGAGE COMPANIES !!! They reaped huge profits in the "INTEREST ONLY" financing, and paid their board of directors, and C.E.O.'S, AND PRESIDENTS, etc, with MUCHO MILLIONS OF BONUSES !!!!!!!!!!!!!!!! Rest assured, we tax payers will end up paying DEARLY for their greedy methods, and actually the correct term is FUDISIARY MALFIESANCE" !!!!!!!!!!!!!!!!!!!!!!!!!!!! Uncle Wil
4. I was under the impression countrywide had 90% tradrional loans and 10% sub-prime loans. I also understand the Sub-Prime loans will no longer be used. I expect the company to be be worth 30 or so dollars per share and then be bought out for 35 to 40 a share.