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COMMENTS: Countrywide Concerns
The drop in prices on Wall Street was Anthony Mason's lead story at CBS while NBC consulted Erin Burnett of its sibling network CNBC. Both highlighted the plight of home mortgage lender Countrywide: Burnett quoted its assessment that house prices are falling at Great-Depression-style rates; Mason cited expectations that the real estate slump will last for at least two more years. Then Mason looked backwards for reassurance: "The Dow is still up 10% this year." ABC mentioned the downward direction in stock prices only in passing even though twice in the last two weeks--with John Berman (subscription required) and Dan Harris (subscription required)--it chose to mark the setting of all-time highs with its lead.
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