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Bank Of America's Purchase Of Countrywide Was A $40 Billion Mistake

Saturday, June 30, 2012 - 9:17 AMBank of America - Details
From the Wall Street Journal
Bank of America Corp. thought it had a bargain four years ago when it paid $2.5 billion for tottering mortgage lender Countrywide Financial Corp. But the ill-fated decision has already cost the Charlotte, N.C., lender more than $40 billion in real-estate losses, legal expenses and settlements with state and federal agencies, according to people close to the bank.

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Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
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