Quote Originally Posted by 'Xzin',index.php?page=Thread&postID=121470#post121 470
Quote Originally Posted by 'Qlimax',index.php?page=Thread&postID=121458#post1 21458
Yeah, with Lehman Brothers, AIG and Merill Lynch's recent standings, I would love to be sitting on the Bank of Americas board of directors. The fact that they can afford to buy their 2nd rival in this market is quite peculiar.
They are still absorbing Countrywide no less. It was a shotgun marriage, at best. But who else? JPM just "bought" Bear Stearns. There is really nobody bigger.
One thing to consider it Bank of America is still posting a profit this year (even with Countrywide) Also it was an all stock deal so there is not much real cash out of pocket. They are one of two bank to post profits first two quarters this year.