FLASH: And then right on schedule the layoffs started at could-go-bankrupt Countrywide Mortgage

Yup, still short CFC...

Hope Angelo can unload a few hundred more million dollars of shares QUICK!!

Report: Countrywide laying off loan originatorsMonday August 20, 12:36 pm ET

Countrywide Financial Corp. has started laying off loan originators, according to a report in Monday's Wall Street Journal, as the credit crunch continues to impact the nation's largest mortgage lender.

The layoffs hit the company's Full Spectrum unit, which handles "Alt-A" loans, which fall between the prime and subprime categories and often are for those applying for loans that don't document their income.

The number of employees laid off was not disclosed. Full Spectrum employed a sales force of about 6,800, with Countrywide as a whole sporting a loan-origination sales force of about 18,000