Do you think this business is recession resistant?

[T Pat]

My son in law works for Countrywide Mortgage, he spent a year and a half on their trade floor rebundeling sub prime loans for the secondary market. Most of those loans were sold to the Chinese (I find a perverse pleasure in that fact). He's still with them and has had to lay off half of his staff, he was sweating his job for awhile but now thinks it's going to be ok. Upper level management is still getting bonuses this year of about half of what they got last year. So he will make in the mid 200's this year instead of the mid 300's.
On the other hand my oldest step son had an ARM with Countrywide, they forclosed on him when he got two months behind.