{"id":198315,"date":"2007-11-17T22:43:00","date_gmt":"2007-11-18T03:43:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/11\/17\/bank-of-america-purchases-2-billion-in-preferred-countrywide-stock\/"},"modified":"2007-11-17T22:43:00","modified_gmt":"2007-11-18T03:43:00","slug":"bank-of-america-purchases-2-billion-in-preferred-countrywide-stock","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/11\/17\/bank-of-america-purchases-2-billion-in-preferred-countrywide-stock\/","title":{"rendered":"Bank of America Purchases $2 Billion in Preferred Countrywide Stock"},"content":{"rendered":"<p>This is a bailout.  <a href=\"http:\/\/www.forbes.com\/markets\/2007\/08\/22\/bank-america-countrywide-markets-equity-cx_cg_0822markets37.html\">Bank of America will purchase $2 billion worth of preferred Countrywide stock yielding 7.3%, and that can be converted into common stock at $18 per share<\/a>.   It should be noted that Countrywide is currently selling at $26.19, up 20% from before the infusion purchase.<\/p>\n<p>This is a juxtaposition of desperation on the part of Countrywide and vulture opportunism on the part of BoA.<\/p>\n<p>Honestly, I think that they will end up losing money on this.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is a bailout. Bank of America will purchase $2 billion worth of preferred Countrywide stock yielding 7.3%, and that can be converted into common stock at $18 per share. It should be noted that Countrywide is currently selling at $26.19, up 20% from before the infusion purchase. This is a juxtaposition of desperation on &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,973,1265,1088],"tags":[],"class_list":["post-198315","post","type-post","status-publish","format-standard","hentry","category-bubble","category-economy","category-housing-crash","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/198315"}],"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=198315"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/198315\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=198315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=198315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=198315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}