January 11th, 2008
Bank of America is buying Countrywide and giving them the much needed bail-out that the markets seemed to want.? Lots of stories on the various news sites, here is the one from Bloomberg,?Bank of America to Acquire Countrywide for $4 Billion.
The big Question is whether or not this will be good for BofA.? They are certainly buying them at a deep discount, but will all of the loan problems from Countrywide, drag down BofA.? Bank of America?thinks not.? Only time will tell.
What do you think?? cd :O)
-- By +Chris Duncan