it's been prompt the offer was structured this fashion to forestall a possible bankruptcy stemming from substantial losses in Countrywide hurting the mother or father Group by trying to keep Countrywide bankruptcy remote.[55] Countrywide fiscal has altered its name to copyright Home Loans.

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[seventy five] Then CEO Ken Lewis was quoted as boasting "We remain lending, and we've been lending a lot more due to TARP method." associates with the U.S. dwelling of Associates, however, ended up skeptical and quoted quite a few anecdotes about mortgage applicants (specially modest business owners) becoming denied loans and charge card holders struggling with stiffer terms around the credit card debt in their card accounts.

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