Just raised over $7 million for China Expansion (YHD) etc. comencing this month. Cashed up no need to borrow like below. This is going up while others go down... beware those companies now with little money and the need to raise more soon....
NEW YORK, Aug 16 (Reuters) - U.S. stocks dropped sharply
on Thursday as fears grew that deteriorating credit market
conditions may deal a blow to economic expansion.
In a sign of the credit shortage in the mortgage industry,
Countrywide Financial Corp., the biggest U.S. mortgage
lender, said it had to draw all of an $11.5 billion credit line
to fund its operations after it was essentially shut out of
other credit markets. Its stock tumbled 13 percent.
"Companies' ability to raise capital and stay liquid is
being questioned," said Owen Fitzpatrick, head of U.S. equity
group at Deutsche Bank Private Wealth Management in New York.
"What we're going to see here is companies that need to borrow
are going to be challenged."
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