Bank to take over Countrywide?

Well, the recent debacle with Countrywide had sent many a investor scampering for the hills. But, what may be perceived as trouble by others is seen by others as an opportunity to make business, of course, there are many that would probably call them vultures. But that would be a bit rich, who is not trying to make a quick buck these days, even if it is at your neighbor’s expense?

Anyway, the recent Mortgage crisis seems to have sent the Bank of America calling on to countrywide Inc, in a bid to purchase the already beleaguered company. This move has sent a sigh of relief through many of the share holders of the Countrywide stock, as the recent news of the exposure of defaulting mortgage payments sent the stock price of Countrywide go into the basement. With the second largest bank in the United States poised to take over Countrywide, the stock markets have all reacted favorably, each posing gains and showing signs of throwing off the bear!