Comments on: Bank Of America To Buy Countrywide

Deal Worth $4B In Stock Aimed At Rescuing Largest U.S. Mortgage Lender

[fornicario]

Maybe if banks took the view of helping the customers they have, instead of looting them for every last dime, we would not be in this economic mess.

[shanev137]

The demise of B of A has begun.

[buddhabman]

So BofA gets Countrywide for 6 Bil (2 Bil previous loan and 4 Bil in stock). That''s a pretty good bargain as Countrywide has a pretty good ratio in it''s portfolio of standard conventional loans to the risky sub-prime and Alt-A loans. It''s just going to be harder and more expensive for people to get jumbo loans now, with one less lender. It is still conceivable that prices in some areas will drop 15-20% more.

[lochlan-2009]

ibsteve2u- Can''t get more accurate than that.

[missingamerica]

Huh...BOA is just about big enough to have more effective power over the nation''s economy than the Fed does, now...

[duffyn]

I agree with fuzzybear. The corporations in this country are getting way to much power. that''s why their mouthpiece bush said "outsourcing is good for the economy" Good for who''s economy? The corporation''s economy NOT the American worker who just lost his job, and then, probably his or her home....

[downtowner97]

All those years I heard the commercials saying "No one can do what Countrywide can". This statement literally means that even Countrywide can''t do what Countrywide can. I thought they meant "No one else can do what Countrywide can". It turns out, they were right. They couldn''t do it.

I think it''s hilarious that a lender that hires hundreds of ebonic-speaking people to call and hound their customers for money couldn''t make it and went bankrupt. It makes me want to call and say "Missa Countrywide, can you tell me why you''re late with your paymit?".

[omega39-2009]

Yeaaa, another merger, more layoffs, less competition. It did wonders for the profits of the oil companies so why not.

[fstop100]

Whatever happened to the Anti trust laws? I believe it was called the Sherman Antitrust Act? Correct me if I am wrong.

[christiansin]

mega bank, mega kakon