Rich Guys » Misc http://www.richguys.org Personal Finance Money Guide to Save Money and Get Rich Tue, 13 May 2008 01:16:33 +0000 http://wordpress.org/?v=2.6 en Bank of America to buy Countrywide http://www.richguys.org/2008/01/11/bank-of-america-to-buy-countrywide/ http://www.richguys.org/2008/01/11/bank-of-america-to-buy-countrywide/#comments Fri, 11 Jan 2008 14:29:54 +0000 Dante http://www.richguys.org/2008/01/11/bank-of-america-to-buy-countrywide/ Bank of America will be buying Countrywide Financial for $4 billion in stock. This will be both saving the country’s biggest mortgage lender and will also save the feds from having to devalue the American dollar any more then it already has.

This will help calm fears of a recession and inflation. Saving the over all economy and becoming the nation’s biggest mortgage lender and loan servicer.

If your like me and have shares in Countrywide, you will receive 0.1822 of a share in Bank of America stock in exchange for every share in Countrywide.

It is believed that this will increase earnings per share for Bank of America in 2009.

Countrywide shareholders gained 51.4 percent on Thursday due to possible reports that were then confirmed today.

Lets see what will happen now that I have to start paying Bank of America for my Mortgage.

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