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S&P Cuts BOA from hold to sell

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Joined
May 2, 2006
Professional Status
Certified Residential Appraiser
State
Ohio
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

Senior Member
Joined
Jun 25, 2007
Professional Status
Certified General Appraiser
State
Pennsylvania
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

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Joined
Nov 28, 2004
Professional Status
Certified Residential Appraiser
State
New Mexico
I don't know. It looks like the loans went to Senators, HUD secretaries and the CEO of FNMA.
 

Mike Boyd

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Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
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?
 
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