Tuesday, November 13, 2007

how countrywide get funds

--before the summer credit crunch, Countrywide raised money through issuing short-term commericial papers --with the spigot largely closed, Countrywide also is leaning on the Federal Home Loan Bank system for credit. --at the same time, Countrywide is relying on FDIC by promoting certificates of deposits with above-market rates.

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