Tuesday, 15 January 2008

Bank Of America Buys Countrywide ...

click here to go to the blogThe mortgage crisis continues to worsen, as the largest mortgage lender in the US, Countrywide Financial has accepted an offer from the Bank of America for $4.1 billion to purchase them at well below book value. This has global economic implications, and I examine how things got so screwed up and provide my take on where they might be going.

Posted on Joshuapundit.