Or at least Bank of America.
Based on the activity of blogging and comments by Active Rainer's I would have to say a large percentage of the mortgage and real estate world is either very fond of, or very interested in CW. The naysayers, however, must be very disappointed in the attempts by the mortgage industry to support CW. It appears that the markets are adjusting to care of themselves.
Bank of America invests $2B in Countrywide. Move viewed as vote of confidence in nation's largest mortgage lender." CNNMoney.com 8/23/07
It's safe to say that Bank of America has always had confidence in CW and a little more. I think it's also safe to say the Bank of America would like to welcome CW to the family, if they agree. I don't know for sure but it might be or could be in the future that CW might not be able to put off Bank of America's advances. This is not the first time this year that B of A has snuggled up to CW, or tried to.
Don't miss the fact that once again a large financially secure, responsible institution is investing in and supporting CW. I guess they're not likely to belly up any time soon.
CW's stock's up, Bank of America's stock is up, everybody's happy.
I'm happy that the market is correcting itself whithout a great deal of Fed involvement.
Oh and by the way, if you're counting on a Fed rate reduction in September, I'd be careful because I don't think it's going to happen, although some parts of the market are already adjusting as if it will.
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