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Countrywide: It’s All Good

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Despite rising delinquencies and foreclosures, a possible class action suit and, just yesterday, and the disappearance of 500 jobs, Countrywide Financial wants you to know that nothing is fucked, dude. The mortgage company’s unusually sunny outlook in the face of adversity manifested itself in full-page advertisements in the Times and other newspapers that told existing customers (the remaining two of them) and potential customers that nebulous but definitely-existing bubbles protect them from the problems in the mortgage market. So don’t worry! Furthermore, the bank “is well capitalized” and “the future is bright.” Works for us.
Countrywide Tries Soothing Customer Worries Amid Layoff Reports [CNBC]
Countrywide says it cut 500 mortgage jobs [Reuters]
Countrywide faces class action lawsuit [Forbes]


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