Countrywide Bankruptcy Watch: Clock Still Ticking

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Countrywide Financial Corp says it still isn’t bankrupt! The largest U.S. mortgage issued an announcement to deny rumors that it was on the verge of filing for bankruptcy.
"There is no substance to the rumor that Countrywide is planning to file for bankruptcy, and we are not aware of any basis for the rumor that any of the major rating agencies are contemplating negative action relative to the company," the statement said.
Shares of Countrywide were down 21.3 percent before trading was halted.
Countrywide rejects bankruptcy rumor [Reuters]

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