Bank of America purchases Countrywide Financial…
Just announced the acquisition of CountryWide by Bank of America. Well there is a bailout if I ever saw one. I as a matter of fact have my mortgage with CountryWide and thought what would happen if it imploded like several other banks. Well that should ease the mind of shareholders and customers alike.
Not to mention the thousands of loan officers around the country would be out of employment. There are so many banks/mortgage companies on the brink of closing their doors. All of this fueled by the sub-prime mess of 2007. My indication there will be other large financial institutions acquiring some of the more recognizable banks that possibly are heading down the same path that CountryWide.
This country will recover. When it’s anyone’s guess. It’s like we need a giant jumpstart to get us rolling again. So for right now CountryWide is still in the “game”. Luckily there was someone to save her. Thank you Bank of America for recognizing a viable company. Others you need to follow suit. The thought of this country being totally foreign owned send chills thru my spine. Lets have a recovery in 2008. Related article below:
http://news.yahoo.com/s/ap/20080111/ap_on_bi_ge/countrywide
Robert L Brown
Five Star Real Estate
616 366 7030
www.mrbrownsellsgr.com
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Robert, I'm glad that Bof A bought them I like Bof A but i'm not so sure I would call Countrywide a great company.
Robert, I am stunned at how hugely gigantic the new company will be. And there don't seem to be any anti trust issues being raised by anyone.
Hugh. I changed the status of great to viable.
Patricia. Do you smell monopoly? Very good thought there...
I do quite a bit of business with CW and have always been happy with them. I think this is a great move.
Don. We dont need to see 20,000 more people out of a job.
B of A is on a roll. They recently bought LaSalle from ABN Amro. As long as they don't hit the 10% total US deposit mark, they can keep going...
Robert:
I am glad Bank of America bought them and not China. We as Americans have to preotect America so we can remain free. So in this I am glad of the transaction. Thanks for the post.
Lance. So now we do know who has all the money..
Nicholas. I don't speak a word of Chinese. We have to cover each other here.
There will be a time when the phrase "National Sovereignty"
is a thing of the past or a shadow of what it is today.....
Populations and foreign corporations buying up real estate
and corporations from our country will take care of that in my opinion...
It started a LONG time ago..... and it is going to just get worse....
=-/