Some breaking news out of
Bank of America: The company plans to get rid of 7,500 employees after it consummates its deal to buy Countrywide
Financial. That’s expected to happen July 1 now that Countrywide shareholders have voted in favor of the deal.
Personally, I think this is one of the worst deals in the history of modern banking — right up there with Wachovia buying Golden West Financial or First Union buying The
Money Store (and merging with CoreStates, for that matter). But so be it.
More on this topic
(What's this?)
Bank of America (BAC) Avoiding Fees And Heading Higher
(The Wild Investor, 9/24/09)
Bank of America: 40% of Junk Bonds to Default by 2013
(naked capitalism, 9/20/09)
Judge Rakoff is Not Buying What SEC and Bank of America Are Selling
(naked capitalism, 8/26/09)
The SEC-BofA Circus
(Skeptical CPA, 9/26/09)
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