I'm sure this guy would definitely say it's a fantastic deal:
Angelo Mozilo, CEO of Countrywide(Photo from L.A. Times/Reuters)
Either way, I think the risk for BofA is pretty minimal. The $6B investment ($2B from their previous investment plus the $4B offer) is only a drop in the bucket for these financial behemoths. Just think about this - Citigroup is reporting earnings next week and they may announce write-downs of up to $11B!
It's going to be very interesting to see how this investment plays out. Whatever happens though, one guaranteed winner is going to be Countrywide CEO Angelo Mozilo. I've read reports that he could leave with a severance package of up to $83M. Very nice...
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