Hello everyone if you are a serious investor or just getting started you must read " BEYOND THE BUBBLE" by Michael C. Thomsett and Joshua Kahr.

This books shows you step by step how to read the tea leaves and avoid being the last person buying   Real Estate when the crash hits. The information in this book is so fascinating that if most investors had read this book in 2003 they would not be in the trouble their in now. So please read this and avoid the next bubble. Happy reading and investing, Paul

Country Wide is the largest lender by volume accounting for 13% of loan servicing according to mortgage industry publication inside Mortgage Finance.Bank of America purchased 2 billion worth of special issued stock when converted to regular stock they will own up to 20% of Country Wide.

Country wide needed the funds to maintain financial viability said Tony Hughes, Managing director of credit risk for Moody's Economy.com

Countrywide President David Sambol said in a statement we have taken decisive steps which we belive will address the challenges in this environment.

The credit agreement requires Countrywide to maintain a net worth of at least 7.68 billion and places restrictions on the company, including limiting the debt its servicing unit can accrue to 100 million.

For 94 years, the fed has been the central bank for the United States. In 1913 the Federal Reserve act was established. Thus the FEDERAL RESERVE.

The Fed is widely dispersed around the country. It has three major parts.The Washington-based board of Governors, 12 regional Federal Reserve banks, and the federal Open Market Committee(FOMC)

It is the FOMC , whose members include all of the governors, the president of the New York Fed, and four regional bank president in rotation, that has the high-visibility job of directing the operations that determine interest rates. If you would like more information on the FED, just do a goggle search for the FED.