Countrywide Loses Most Since 1987 on Bankruptcy Bets

"Countrywide Financial Corp. dropped the most in two decades on the New York Stock Exchange amid speculation the largest U.S. mortgage lender will file for bankruptcy... Credit-default swaps tied to Countrywide's debt soared to a record as investors demanded 30 percent upfront and 5 percent a year to protect from a Countrywide default for five years, according to broker Phoenix Partners Group in New York." -- Is this the end of the reign of Teflon Tangelo?