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Countrywide $422 million loss no big deal to Bank of America
Considering that HSBC paid $14 billion to buy predatory lender Household International, and managed to lose more than they paid for Household, Countrywide still looks attractive to Bank of America. Although Countrywide lost $422 million it does not seem to change BofA’s proposed $4.1 billion takeover. In relative terms the price is good and may get better if share value drops even more. Nothing is certain these days, as evidenced by failed deals in recent months. Some of the failed deals were “brilliant ideas” which turned in to dim bulbs.
[...] staff@mortgagefraudblog.com wrote an interesting post today onHere’s a quick excerptConsidering that HSBC paid $14 billion to buy predatory lender Household International, and managed to lose more than they paid for Household, Countrywide still looks attractive to Bank of America. … — for brevity this is a summary … [...]