Who here owns Countrywide Financial (nyse:cfc). looks like Bank of America is going to buy them. Think the stock price will go back up? What do you guys think?

The purchase price is $7.15 a share so I think thats all she wrote, if people bought yesterday they would be partying like its 1999 today.

Personally I think its not a good idea aside from option arms CW has always been more competitive than the rest of the field with good products which forces to competition to reduce rates and cut mortgage costs. We are one more step LEAP toward being controlled by a small handful of banks again.

I imagine the only one who did well in that deal is the outgoing chairman of Country Wide. I forget his name, but do remember reading about the hundred-something million dollars HE got out of the deal . . .

Share holders usually get the short end of the stick on fire sales like that.

__________________
" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century

OBK #55

1998 Lincoln Continental - Sold
Max 1984 300TD 285,000 miles - Sold
The Dee8gonator 1987 560SEC 196,000 miles - Sold
Orgasmatron - 2006 CLS500 90,000 miles
2002 C320 Wagon 122,000 miles
2016 AMG GTS 12,000 miles

I think we're all completely f'ed.

I'll need 20 points on BAC to recover the losses in CFC.

Good luck with that............