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October 6, 2008 1:38:06 PM CDT

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Stories related to: Countrywide

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  • September 2008

    • Her Golden Parachute Fine With McCain

      ABC News  |  Sep 16, 08 2:10 PM CDT

      Her Golden Parachute Fine With McCain

      (Newser) - John McCain and Sarah Palin made a point yesterday of blasting CEOs who left their companies with multimillion-dollar golden parachutes while workers and shareholders suffered. But McCain’s top economic adviser deployed just such a shiny parachute when Hewlett-Packard ousted her, ABC News reports. Carly Fiorina pocketed $45 million, even as the company laid off 20,000 and its shares fell 50%. More »

      Tags

      John McCain  • Bear Stearns  • Fannie Mae  • Freddie Mac  • Countrywide  • Hewlett Packard  • CEOs  • Carly Fiorina  • golden parachutes

  • July 2008
  • June 2008

    • Illinois to Sue Countrywide, CEO Over Foreclosure Fiasco

      Wall Street Journal  |  Jun 25, 08 8:57 AM CDT

      Illinois to Sue Countrywide, CEO Over Foreclosure Fiasco

      (Newser) - The state of Illinois will sue Countrywide and its CEO today for "unfair and deceptive practices" in the first suit related to the current mortgage crisis. The company is accused of pushing loans on homeowners even if they couldn't repay them, the Wall Street Journal reports. Illinois' attorney general blamed Countrywide's actions for widespread foreclosures. More »

      Tags

      mortgage crisis  • Illinois  • civil lawsuits  • Countrywide  • Angelo Mozilo

    • Obama's Embattled Veep Hunter to Quit

      CNN  |  Jun 11, 08 2:21 PM CDT

      Obama's Embattled Veep Hunter to Quit

      (Newser) - A member of Barack Obama’s VP selection team who has drawn a firestorm of criticism this week is stepping down from his post, CNN reports. “Jim [Johnson] did not want to distract in any way from the very important task of gathering information about my vice presidential nominee, so he has made a decision to step aside that I accept,” Obama said in a statement. More »

      Tags

      Barack Obama  • vice president  • vice presidential sweepstakes  • Countrywide  • Jim Johnson

  • March 2008
  • January 2008

    • BofA May Buy Ailing Countrywide

      Wall Street Journal  |  Jan 10, 08 3:21 PM CST

      BofA May Buy Ailing Countrywide

      (Newser) - Bank of America is in advanced talks to buy troubled Countrywide, the Wall Street Journal reports. The Charlotte-based bank could be on the brink of acquiring the US' largest mortgage lender, whose market value has plummeted to $3 billion—about 2 months' profit for BofA—as foreclosures continue to dent profits. It's still unclear if the Federal Reserve would approve of an even-more-giant BofA, the second largest bank in the nation. More »

      Tags

      subprime mortgages  • Bank of America  • bankruptcy  • Countrywide  • LaSalle Bank

    • Stocks Soar After Bumpy Ride

      MarketWatch  |  Jan 10, 08 3:19 PM CST

      Stocks Soar After Bumpy Ride

      (Newser) - The Dow finished up 117.78 points today, closing at 12,853.09 on signals from Fed chairman Ben Bernanke of interest-rate cuts to come and reports that Bank of America is in talks to buy home-loan giant Countrywide. It was a bumpy ride, though, as the key index was down more than 100 points at one point on weak December sales at big retailers. More »

      Tags

      S&P 500  • Nasdaq  • Dow Jones  • Bank of America  • Countrywide  • Capital One  • Harbinger Capital

  • November 2007

    • Techs Put Damper on Optimism

      MarketWatch  |  Nov 30, 07 3:38 PM CST

      Techs Put Damper on Optimism

      (Newser) - The markets closed up today on rumors of a coming interest rate cut, but bad news in the tech sector limited gains. The Dow climbed 59.99 points to 13,371.72, but only after a negative forecast from Dell erased a sizable morning rally. The S&P 500 climbed 11.42 to 1,481.14, while the Nasdaq slumped 7.17 to close at 2,660.96. More »

      Tags

      Federal Reserve  • S&P 500  • Nasdaq  • Dow Jones  • Ben Bernanke  • interest rate  • Countrywide  • Dell

  • October 2007

    • SEC Looks Into Countrywide Stock Sales

      Wall Street Journal  |  Oct 17, 07 10:06 PM CDT

      SEC Looks Into Countrywide Stock Sales

      (Newser) - The CEO of troubled mortgage lender Countrywide is under investigation over stock sales, the Wall Street Journal reports. Angelo Mozilo sold at least $130 million this year of stock in a company deeply affected by the subprime mortgage mess; the Securities and Exchange Commission is looking into several aspects of Countrywide's operation, including executive stock sales. More »

      Tags

      Countrywide  • insider trading  • white collar crime  • Angelo Mozilo

  • September 2007

    • Market Rallies on Corporate Gains, Labor News

      MarketWatch  |  Sep 13, 07 4:12 PM CDT

      Market Rallies on Corporate Gains, Labor News

      (Newser) - US stocks rallied today, with blue chips and Countrywide Financial at the helm. A General Motors' analyst upgrade and  a higher-than-anticipated dividend at McDonald's helped drive the Dow up 133.23 points, to 13,424.88. Countrywide rose 14% on news that the battered lender has lined up $12 billion in financing. The Nasdaq climbed 8.99 to 2,601.06, and the S&P jumped 12.39 to 1,483.95, MarketWatch reports. More »

      Tags

      General Motors  • stocks  • crude oil  • labor  • financial markets  • Countrywide  • job market

    • Subprime Crisis Sparks a Spate of Legal Battles

      Washington Post  |  Sep 11, 07 11:24 AM CDT

      Subprime Crisis Sparks a Spate of Legal Battles

      (Newser) - The troubles plaguing Countrywide and Bear Stearns’ hedge funds will move from the boardroom to the courtroom. Homeowners and banks are suing mortgage lenders, shareholders are suing funds, the SEC is investigating executives, and Congress may conduct hearings into credit agencies' practices. The current mess ensnares “an incredible range of parties,” one legal expert tells the Washington Post. More »

      Tags

      lawsuit  • subprime mortgages  • Wall Street  • Bear Stearns  • hedge fund  • investors  • homeowners  • Countrywide  • Enron

    • Countrywide Will Slash up to 12,000 Jobs

      Wall Street Journal  |  Sep 7, 07 6:31 PM CDT

      Countrywide Will Slash up to 12,000 Jobs

      (Newser) - Troubled mortgage lender Countrywide announced today that it would cut up to 12,000 jobs–or some 20% of its total workforce–over the next three months. The Wall Street Journal reports that, as the subprime debacle rocks the housing market and the lending industry, Countrywide expects to issue 25% fewer loans this year.