ThinkProgress made quite the catch with this one. At the end of a long CNBC report detailing Countrywide's problems, the network went straight in to a commercial break. The very first ad? Countrywide Mortgage, making a pitch that "now" is the time to "refinance and get cash."
Apparently Countrywide has decided that the solution to its financial troubles is to spend more money on marketing. MediaBiz Blog notes that financial services providers are among the biggest spender in the online advertising market, which is yet another example - and one that I hadn't previously considered - of just how dangerous this entire mess is. Everything is connected to the financial services industry.
Should Countrywide start cutting back on their advertising? I have no idea. Either way, let's hope for all our sakes that they've considered their next moves very, very carefully.
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