Bank of America has a lot on the line in its trial over the hyper-controversial $8.5 billion settlement it struck with a group of bondholders to settle claims covering up to $424 billion worth of bonds.
So just how bad was Bank of America's 2008 deal to buy Countrywide?
It's become something of a cliché to state that Bank of America's (NYSE:BAC) 2008 purchase of then-mortgage giant Countrywide in 2008 was one of the worst bank deals ever. Few would dispute that contention at this point.
The Bank of America purchase of Countrywide is about to mark its fifth anniversary.
So just how bad a deal was Bank of America's purchase of Countrywide?
In the latter half of 2011, the idea that Bank of America would push its disastrous Countrywide unit into bankruptcy court gained popularity. At various points, it seemed quite possible. Indeed, as...
Recall the controversial $8.5 billion settlement between Bank of America and a group of investors--including the likes of PIMCO, Blackrock, the Federal Reserve Bank of New York and other big
Bank of America's $4 billion purchase of Countrywide in July 2008 has been widely anointed one of the worst deals in corporate history. The deal has resulted in little other than legal and regulatory
Bank of America CEO Brian Moynihan has perhaps the hardest job in banking. Fixing up the troubled banking giant--which is reeling from the economy and the disastrous Countrywide purchase in 2008--has
Bank of America continues to reel from its Countrywide purchase, which will likely go down as one of the worst corporate deals in modern history. One has to wonder how former CEO Ken Lewis feels