Wow – a quick scan of the Countr Wide listings – 1953 of them in California.
Assuming (conservatively I think) an average price of 250K that is over 488 million (on paper) in real estate they have sitting on the market just in CA. I would think at some point they have to try and recoup some of that before the end of the fiscal year – I am not sure how that works with their current financial “situtation”.