There's no way BofA ends up buying Countrywide as announced. No way. They'd be paying billions for something that will end up COSTING them tens of billions and legal nightmares for years and years to come.
Countrywide is every venereal disease known to man. And sure, it's closing time at the bar, but BofA is probably sobering up a bit now and Angelo ain't lookin' too good. Man, they should have just called their buddy HousingPANIC. We'd have taken those beer gogs off of 'em and got 'em home no damage done. Oh well, live and learn.
I'd love to see the look on Angelo's face when BofA tells him that instead of $4 billion and a huge package on the way out for The Orange One they're now offering $1, Angelo gets a new bottle of spray-on tan at most, and even then they're not quite sure they'll still go through with it.
Doubts Over Deal Hit Countrywide Shares
Countrywide Financial Corp. shares dropped nearly 10% Friday amid growing investor fears that Bank of America Corp. could walk away from its agreement to acquire the struggling home-mortgage lender.