This can't be good for Countrywide

I hope they don't mean this because I'm sure the credit crisis won't be over in 3 months.

http://www.dailynews.com/news/ci_6643472

Countrywide's troubles deepen
BY GREGORY J. WILCOX, Staff Writer

CALABASAS - Countrywide Financial Corp.'s financial trouble deepened Thursday, forcing the nation's biggest mortgage lender to tap an $11.5 billion credit line to fund operations.

Paul J. Miller, an analyst at Friedman, Billings, Ramsey & Co., said in a research report that Countrywide's survival depends on how long the mortgage crisis lasts.
"We do believe there is a scenario in which the current liquidity crises last for longer than three months and CFC is forced into bankruptcy," he wrote. "It will be ugly, but it can happen!"

Miller also predicted that if the crisis passes within a month, the company will be able to resume normal origination functions and its stock price will jump back into the $30 range.
If it persists for more than a month, he said, Countrywide might be forced to sell assets at a deep discount, putting "tremendous pressure" on its stock.