bank of america

Bank Of America May Buy Countrywide

Bank Of America May Buy Countrywide

Marketwatch says that Bank of America is in “advanced” talks to acquire Countrywide. No word on if said talks took place on Vader’s Star Destoyer or on Captain Hook’s pirate ship. Bank of America already bailed out Countrywide last year, chucking $2 billion into the troubled mortgage lender in exchange for preferred securities that could be converted into stock at $18. Countrywide is currently trading at around $7.75.