Will Bank of America's stock rise after they buy Countrywide?

Question

I'm interested to hear the general opinion on this one...

Answer 1

I believe that CountryWide will be an anchor on BOA books.

Countrywide is in such an incredible financial mess, it will be very difficult to clear up the c**p that's out there - and that does not include c**p that has not yet been uncovered.

I closed out my account with BOA when I heard the news.  Better to avoid the entity until there is positive news.

Even thinking of shorting BOA stock just before the first consolidated reports come out - you can be almost certain it will be a disaster on paper.