Citi Looking for $10 Billion Investment, Countrywide Near Bankruptcy
Read the full article: http://www.money-rx.com/blog/2008/01/countrywide-financial-c...
Merrill is expected to get $3 billion to $4 billion, much of it from a Middle Eastern government investment fund. Citi could get as much as $10 billion from Singapore's GIC...Countrywide on collision course with bankruptcy...
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Not much of a choice. There
Not much of a choice. There is no local investor who would be willing to shell out these amounts on such short notice, under such difficult circumstances. I mean, the banks asking to be rescued here are the ones who normally do the rescuing. If it's any consolation, they're lending us our own money, either paid for importing oil or cheap consumer goods....
Looks like there is an
Looks like there is an investor. Bank of America wants in, and the stock soared. Damn, I wish I would have bough yesterday, I kept telling myself too.
What I am afraid of is that
What I am afraid of is that we are selling everything off to other countries. It is scary to think that once all of his housing mess gets cleared out, that we will be owned by foreign countries (these are the same countries that are controlling the oil and contributing to the consumer pinch).