Countrywide Bailed Out
January 11th, 2008
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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 The New York Times, Bank of America to buy CountryWide.
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
