On the Countrywide bank FAQ site. They say that they are no longer accepting new customers for checking accounts. That is pretty spooky, and just in time for halloween. However, during the conference call officers of the company said that loans were now being funded through the countrywide bank as the company no longer has access to outside sources of credit.
Does anybody still use savings accounts anymore? How do the countrywide executives expect people to hold money in a savings account where you earn 3% interest (if you are lucky), inflation is running at 2% (according to the fudged CPI data), and the dollar has fallen 10.4% against other major currencies this year. Dollars kept in savings accounts lost 9.4% of their value this year subtracting for interest.
CFC Faq Site
Does anybody still use savings accounts anymore? How do the countrywide executives expect people to hold money in a savings account where you earn 3% interest (if you are lucky), inflation is running at 2% (according to the fudged CPI data), and the dollar has fallen 10.4% against other major currencies this year. Dollars kept in savings accounts lost 9.4% of their value this year subtracting for interest.
CFC Faq Site
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