The largest U.S. banks are rallying together to put an end to the global credit crunch that has throttled stock and bond markets and shaken the confidence of investors and consumers.
Nearly a week after disclosing that it was having severe problems raising cash in the short-term debt markets, Countrywide Financial (nyse: CFC - news - people ), one of the biggest U.S. mortgage lenders, got a welcome reprieve in the form of a $2 billion equity ...
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i don't know enough to know whether 'all together now' refers to financial entities pulling together or to all willing to go down with the ship. the article points out a lot of activity out there to keep the investment ship afloat, and it appears to all the corporations quoted to be a good thing, but there is no mention of any potential downside. what does this mean for the future if the coordinated effort doesn't stop the fall?
A useful continuation of the credit crunch story. I need to have the context a little more spoon fed though. Two claims are supported only by linked evidence.
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