Countrywide Bought By Bank Of America

[Greg]

Since our news reporters seem to be slacking:

When you want news at MBL GTV will bring it to you first.

Bank of America is doing a stock buyout of 4 billion to purchase Countrywide.

Countrywide, "America's #1 Self Proclaimed Home Lender" lol has been on the tip of the tounge of reporters who felt they may file bankruptcy.

Bailed out! Someone must have some dirt at Countrywide on someone at BOA. What a horrible move IMO!

This reminds me of when HSBC bailed Household Financial (Beneficial and Decision 1) out from possible liquidity nighmares and then closed Decision 1 last year and closed 390 retail branches of HFC and Beneficial at the end of 2007.

Then First Franklin! Merril Lynch is speculated to have another write-down. It is speculated near 15 billion!

Does this affect you? Not me. Close your loans and do everything you can with what you have!