One of the country’s largest banks by assets and branches, Bank of America also provides credit cards, asset management, and other money-related services.
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Countrywide will prove to be very profitable in the long run. Housing will turn around and BAC will have tremendous cash flow. BAC will spin off bac debt of CFC and keep the pay dirt. In Q2 of 2008, which is arguably the zenith of the credit crisis, BAC turned out something near .72/share profit - and has not had to cut its dividend when virtually all competitors have cut dividends. Plus Ken Lewis is from Mississippi and we all know that state produces freakin Super Stars