Bank of America to buy Countrywide for $4 billion worth of stock

News Type: Event — Seeded on Fri Jan 11, 2008 7:33 AM EST

Article Source: Reuters

business, banks, banking, acquisition, bank-of-america, countrywide, boa, invetsment

Smart move: why put up good money for bad rubbish when you can just throw out some of your own stock (which may itself be overvalued if some rumours are to be believed). The salvation of Countrywide will definitely help avert an immediate crisis of confidence, but it remains to be seen if BoA has really made an investment that will be in its shareholders best interests...

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Bank of America to buy Countrywide for $4 billion worth of stock

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