by Calculated Risk on 9/11/2007 10:38:00 AM

From the NY Post: Countryslide, Mortgage Lender's Shares Plunge; Seeks 2nd Bailout

Note: You have to enjoy the Post headline. Countrywide is seeking more investments, not a bailout. This story is also on Dow Jones (not as colorful).

Countrywide Financial Corp. is putting together another multi-billion dollar bailout plan as the nation's largest home lender continues to struggle amid the global credit crunch and declines in the housing market ...
...
It's unclear at this point who exactly is involved in the investment, but sources said a group that could include J.P. Morgan and Citigroup as well as several hedge funds has expressed interest in Countrywide.

A final deal could be announced by the end of the month, sources said.
...
"The issues the economy is facing are worse than most people believe," Mozilo said in an interview last Friday with Bloomberg News.