Countrywide Investments

[socalmofo]

I have a CD with countrywide. Should I be concerned and take it elsewhere?
Not too savvy on the whole FDIC insured deal. Anyone have any insight?
Thanks!

[mondorally]

I have a CD with countrywide. Should I be concerned and take it elsewhere?
Not too savvy on the whole FDIC insured deal. Anyone have any insight?
Thanks!
I wouldn't be too concerned. The WSJ had an article today about Countrywide and the like offering great CD rates as they try and get some cash in the door to fund loans.
-Justin

[socalmofo]

If they were to go bankrupt would I lose my money?

[Havasu1986]

If they were to go bankrupt would I lose my money?
you should be insured up to 100k.

[totenhosen]

you should be insured up to 100k.
Yup!

[Screemy1]

If they were to go bankrupt would I lose my money?
no, unless you have a cd worth more then $250,000 and don't worry to much about them bankrupting...... stocks should be a good buy sometime soon....... people still dumping the stocks.... but I am willing to bet they will climb again.... it is just when that has me scratching my head..... because I will be buying back some stock that I dumped two months ago..... I use the VP method.... my wife tells me when a high up vp dumps his stock and leaves the company..... and it worked..... now we need to figure out a method of when to buy.:idea:

[Mandelon]

Two different parts of the business. Banking end is good, lending side is having trouble. My understanding is they are separate entities, owned by the same main biz, one couldn't drag the other down.

[wildcat]

Two different parts of the business. Banking end is good, lending side is having trouble. My understanding is they are separate entities, owned by the same main biz, one couldn't drag the other down.
Exactly right. Bank is solid, MTG side is in deep doo. They closed down the sub prime side and took 11billion on a credit line to keep it afloat. Reguardless the bank is solid.

[Trailer Park Casanova]

FDIC is good.
Last time I checked into FDIC their was no time limit for them to pay you, they can take as long as they wish.
That may have changed.

[Dan Lorenze]

Two different parts of the business. Banking end is good, lending side is having trouble. My understanding is they are separate entities, owned by the same main biz, one couldn't drag the other down.
You are correct!