04.04.08
The Big Story for 4/4/08
Besides the unemployment numbers, which if honestly reported will show a massive drop in addition to substantial revision downwards for February, there was one story which stood out and grabbed my attention last night:
Moody’s cuts Countrywide Bank rating to “D”
This story ( located here ) could be the news Bank of America has been looking for to walk away and leave the taxpayer with this dog. Stay tuned gang as life is about to get one heck of a lot more interesting in our markets as the big hits, the CMBS problems are about to explode like a cow that fell asleep on the railroad tracks of a bullet train.
It’s a good thing the analysts have not put a “SELL” recommendation on this stock yet. Heck, it might rally above 7 with this news……(Check out one of the analyst summaries here at Yahoo Financial page).
