Countrywide posts huge loss

Submitted by R. Neal on Tue, 2008/04/29 - 1:51pm.

Nashville Business Journal:

Countrywide Financial Corp., which is being acquired by Bank of America Corp., reports a first-quarter net loss of $893 million, or $1.60 per diluted share.

The report says their provision for bad loans increased 888% to $1.5 billion. Yikes!

( categories: )
gonzone's picture
regs
Submitted by gonzone on Tue, 2008/04/29 - 2:07pm.

I blame the onerous and too strict banking and finance regulations myself.
We need to get government out of the business of business.
/snark

"When the going gets weird, the weird turn pro."
Hunter S. Thompson

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Post new comment

The content of this field is kept private and will not be shown publicly.
  • Lines and paragraphs break automatically.
  • Web page addresses and e-mail addresses turn into links automatically.

More information about formatting options

Captcha
This question is used to make sure you are a human visitor and to prevent spam submissions.
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.