Countrywide & Subprime Lending Crisis

Essay specific features

 

Issue:

Business

 

Written by:

George V

 

Date added:

February 17, 2012

 

Level:

University

 

Grade:

A

 

No of pages / words:

18 / 4817

 

Was viewed:

8360 times

 

Rating of current essay:

 
Essay content:

2007 has definitely not been Countrywide's year. The company has lost its place as America's Home Lender and has been quoted by few as America's Home Wrecker. Countrywide reacted to the crisis, but reacted slowly. Originally Countrywide denied the existence of the problem and downplayed its importance...
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As the problem developed into a crisis, company's reactions seemed obligatory and sometimes spasmodic. To the defense of Countrywide, the social issues and implications of the crisis are much larger than them, and the whole U.S banking industry has not yet been able to deal with its domino effects. Last week the federal government intervened with a comprehensive plan attempting to defuse the crisis...
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