{"id":197787,"date":"2008-01-11T06:05:00","date_gmt":"2008-01-11T11:05:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/01\/11\/bank-of-america-to-buy-countrywide\/"},"modified":"2008-01-11T06:05:00","modified_gmt":"2008-01-11T11:05:00","slug":"bank-of-america-to-buy-countrywide","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/01\/11\/bank-of-america-to-buy-countrywide\/","title":{"rendered":"Bank of America to Buy Countrywide"},"content":{"rendered":"<p>Their <a href=\"http:\/\/investor.bankofamerica.com\/phoenix.zhtml?c=71595&amp;p=irol-newsArticle&amp;ID=1095252&amp;highlight=\">press release is here<\/a>.<\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p> Bank of America Corporation today announced a definitive agreement to purchase Countrywide Financial Corp. in an all-stock transaction worth approximately $4 billion.<\/p><\/blockquote>\n<p>Basically, BoA just bought Countrywide for some magic beans.  It&#8217;s all funny money, unless, of course, if you are a shareholder, in which case, your stake in BoA is diminished.<\/p>\n<p>Still a losing proposition, I think, particularly since the insolvent Countrywide will place downward pressure on the BoA stock price.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Their press release is here. Bank of America Corporation today announced a definitive agreement to purchase Countrywide Financial Corp. in an all-stock transaction worth approximately $4 billion. Basically, BoA just bought Countrywide for some magic beans. It&#8217;s all funny money, unless, of course, if you are a shareholder, in which case, your stake in BoA &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,1005,973,1265],"tags":[],"class_list":["post-197787","post","type-post","status-publish","format-standard","hentry","category-bubble","category-business","category-economy","category-housing-crash"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197787"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=197787"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197787\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=197787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=197787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=197787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}