Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: CalculatedRisk who wrote (88475)	9/7/2007 7:13:48 PM
From: CalculatedRisk	Read Replies (1) \| Respond to of 306849

$544 Million in downgrades from Fitch on two Countrywide mortgage pass-through certificates home.businesswire.com

To: CalculatedRisk who wrote (88475)	9/7/2007 7:17:58 PM
From: patron_anejo_por_favor	Respond to of 306849

>>As has always been the case in previous cycles when the market has shifted and our volumes and related revenues fell, we need to again adjust our organization by scaling back our operations and reducing our cost structure accordingly. Unfortunately, the only way to accomplish this is to make significant reductions in our workforce which we estimate to range between 10,000-12,000 employees (which includes reductions that we have already made)<< ...or more simply translated: ....................../´¯/) ....................,/¯../ .................../..../ ............./´¯/'...'/´¯¯`·¸ ........../'/.../..../......./¨¯.. .........\.................'...../ ..........''...\.......... _.·´ ............\..............( ..............\.............\