Posted on: 05th Feb, 2008 11:13 am
I am contemplating to start a High-yield, Moneymarket account with Countrywide Bank, FSB (they offer the highest yield and acceptable terms)
Now, in light of recent developments (Countrywide being in trouble due to the Sub-prime debacle, stock price plunge and talks of Countrywide going under) how good of an idea this might be? The account will be FDIC insured, but I do not want to be involved in a Bankruptcy and wait to get my money back for a long time!!!
Any suggestions?
Thanks,
Simon
Now, in light of recent developments (Countrywide being in trouble due to the Sub-prime debacle, stock price plunge and talks of Countrywide going under) how good of an idea this might be? The account will be FDIC insured, but I do not want to be involved in a Bankruptcy and wait to get my money back for a long time!!!
Any suggestions?
Thanks,
Simon
hi sd,
as much as i've heard, countywide's filing bankruptcy is nothing but a rumour. earlier in january, bank of america was expected to take over countywide. so, hopefully, you won't have problems going for a money market account with the bank.
since the account is fdic insured, you are likely to get back your money should there be any trouble in future.
as much as i've heard, countywide's filing bankruptcy is nothing but a rumour. earlier in january, bank of america was expected to take over countywide. so, hopefully, you won't have problems going for a money market account with the bank.
since the account is fdic insured, you are likely to get back your money should there be any trouble in future.
Hi Simon,
I agree with Alex that as the account is FDIC insured, you should not have much problem. I think Countrywide bank is not in very bad condition.
Thanks.
Larry
I agree with Alex that as the account is FDIC insured, you should not have much problem. I think Countrywide bank is not in very bad condition.
Thanks.
Larry