Comments on: We told you about this AGES ago.

By: Steve

Steve — Wed, 16 Jan 2008 08:15:34 +0000

James is essentially correct. Over the next two years all traces of Countrywide will disappear and very few of their employees will transition over. Chase will likely buy WaMu and do the same. I’ve been on both sides of mergers and acquisitions during my career, and seen this again and again. The real question is, who’s going to buy Downey and First Fed? If you think CW’s portfolio is a toxic mess, check out those two.

By: james

james — Fri, 11 Jan 2008 18:36:14 +0000

I know for a fact that BofA has absolutely no intention on keeping the wholesale or correspondent channels. They only want the servicing. They have done this time and time again. Their MO is the least amount of legal exposure with the most to gain in market share. This merger and LaSalle seals the deal. Remember Security Pacific? Remember Nations? Remember MBNA? Each time they acquired a company, they told the sr. execs that their jobs would be secured and eventually found a way to get rid of them. They are #1 for a reason and it isn’t because they are nice and play fair. PLEASE….. Four years ago, CW had a standing offer of $35.00/share. They should have taken it.

By: Chris

Chris — Fri, 11 Jan 2008 17:53:48 +0000

I think that BOA was gonna buy CW for a long time.

By: Ann

Ann — Fri, 11 Jan 2008 14:55:07 +0000

Interesting…alot of chatter in regards to if BofA will shut down the wholesale side of CW….since they already exited the market…

By: John

John — Fri, 11 Jan 2008 13:10:57 +0000

More like…WHO BAILS OUT B of A when they discover Tangelo’s real mess???

By: Joel

Joel — Fri, 11 Jan 2008 02:49:48 +0000

Don’t gloat just yet. This is still just a rumor and very unlikely one at that.

By: Tom

Tom — Fri, 11 Jan 2008 01:06:02 +0000

Ooh, I like that choice. I’m glad the bank I work for isn’t big enough to swallow that one.

By: JB

JB — Thu, 10 Jan 2008 23:53:58 +0000

Chase. Coveted west coast banking network.