S&P Cuts BOA from hold to sell

[Crunch Hardtack]

Link: http://www.marketwatch.com/news/sto...x?guid={79F72B43-6F07-4810-B183-CA5809C90BDC}

Excerpt: Standard & Poor's Equity Research on Friday downgraded shares of Bank of America Corp. (BAC:bank of america corporation com )(BAC 27.10, -1.04, -3.7%) to sell from hold amid worries about the mortgage portfolio the bank will inherit when it acquires lender Countrywide Financial Corp.

Hmmmmmmmmm..........ya think?

 

[Financially Feasible]

Why should anyone worry? Didn't BoA say something to the effect of: we are buying Countrywide but not assuming it's debt? :new_all_coholic:

 

[Lobo Fan]

I don't know. It looks like the loans went to Senators, HUD secretaries and the CEO of FNMA.

 

[Mike Boyd]

I don't know. It looks like the loans went to Senators, HUD secretaries and the CEO of FNMA.

....as well as to millions and millions of others.

I do not think the party is over-----just that they have to stop serving booze at a specific time. Kinda like....following some reasonable rules?