What would have happened to the thousands and thousands of loans that Countrywide made that are now in foreclosure if Countrywide had declared bankruptcy?
Reminds me of the S&L crisis and the RTC Days where borrowers got a letter in the mail that said, "Make us an offer on your loan."
I think the play is that BofA lost the drawing and got the short straw and took one for the gipper.
The big boys are scrambling.

CFC is radioactive. Bank of America already has too many footprints in the nuclear waste. They're just hastening their own slow death by swallowing the leaking reactor whole.

Luckily for other crap financial companies like Citi and Merrill, they've got deep pocketed partners (Arab OPEC nations and Red China) who'll gladly keep buying into them cheaper and cheaper piecemeal to keep them afloat.

The 16 August 2007 Final Lower Saturation High?

{17-18}//{44}//{(3)8/19/16of ?16} days

If 'news' about one corrupt financial institution being bought out by another corrupt financial institution is all it takes to make
Wall St.'s heart go pitty-pat, how honest can
Wall St. be?

It appears that economists at the Central Bank intend to increase the rotational speed of the national debt slot machine indicator windows to correct for economic deficits attributable to credit card, and sub prime corporate greed. The introduction of foreign capital, and corporate banking acquisitions are manipulative accounting procedures to create illusionary American economic strength. Get ready to take it in the shorts!

The market is in whipsaw mode, thrashing about on the smallest bit of news, good or bad.

I would be interested to see how many shares traded by program.

Three Card Monty ...

First the loss is over here, nope it is over here, wrong again !

Just like Citi bought out ABN Anbro mortgage sector, this will be a big mistake. Citi lost their butts over that deal , even with Citi using the tricks they are famous for. Like refunding escrow accounts then raising the mortgage payment and adding tons of fees to criminally increase their profits. If you were lucky and caught them doing this before it was to late, they blamed it on a "computer error" and still took months to get the problem resolved. But they only do it IF the borrower caught it themselves, and spend the many hours it takes to get them to act. Otherwise, your just screwed because they wont try to correct the "computer Error". Not when they intentionally caused it, and it is making them massive profits.

I wonder what kind of tricks B of A will pull on the Country wide customers?? They arent as famous for scams like Citi, but they do have a dirty past.

Stocks Rise On Potential Countrywide Buy
Of course, it only makes sense that a bank already losing money on sub-prime mortages would rush to buy a company on the verge of bank ruptsy from doing the same......
"TURDS IN A NAPKIN" ladies and gentlemen",
"GET YOUR PIPIN HOT TURDS IN A NAPKIN, HERE",
"TURDS FOR SALE WHILE THEY'RE SMOKIN, FOLKS"
"GOTA GOTA GET THEM TURDS FOLKS"

I believe CFC went up on the rumor of BA buyout while rest of market went up when Ben Bernanke said he would print more money, much more.

Sure. Stocks rise on the prospect of increasing bofa's servicing portfolio and loss of thousands of American jobs.

What did you expect them to do? They gave countrywide an $11billion loan that countrywide drew down in one month for operating expenses.

Buy countrywide or eat the loss. Done deal.