THis morning CFC announced it layed off 500 employees of it "Full Spectrum Lending" unit. 500 employees, does this even make sense? Less than 1% of it's 61,000 employees of it's retail sub prime and ALT-A unit? See the numerous articles that discussed that this morning.;http://news.search.yahoo.com/search/news?ei=UTF-8&p=countrywide+layoffs Speculation abounds that Bank Of America or Wells may make a bid for them. Countrywide has run full page ads in the Los Angeles TImes and the Detroit's Free Press in an effort to reduce panic and prevent a run on it's banking centers where customers apparently flooded yesterday amid fears of losing their deposits.....I hope they make it, but in full dislosure, I bet my boss lunch that by Monday they will be at the courthouse steps with a petition.It ...
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