More fall out from escalating sub prime woes. Accredited Home Lenders (LEND) is now seeking strategic options including refinancing to increase liquidity to mee its debt obligations. The domino effect is in full force. I would also be keeping a keen eye out for Countrywide Financial (CFC) as their sub prime market exposure is also significant. Additionally, there has been signficant insider selling activity at CFC which raises questions about the stability at that organization. CFC further stated that their operating results will be affected by the fall out from the sub prime crisis.
I am just waiting for the next shoe to drop. Perhaps Goldman Sachs (GS) early morning earnings report will shed some light onto the severity of the sub prime crisis.
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