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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 368.29+0.6%Nov 7 4:00 PM EST
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To: energyplay who wrote (21542)8/23/2007 1:48:00 AM
From: energyplay  Read Replies (1) of 217587
 
From analyst's edge - B of A bails out Country Wide for a price -

Countrywide Cuts a $2b Deal with BofA
Bank of America (BAC-NYSE) is making a $2 billion equity investment in Countrywide Financial Corp., the Journal reported. Bank of America will purchase $2 billion worth of preferred Countrywide stock yielding 7.25%, and that can be converted into common stock at $18 a share, those people said.

7.25 - 4.75 Fed discount window = 2.50% positive carry on 2 Billion, or 50 million per year.

Will add about $0.011 , a little more than 1 cent per share to B of A's bottom line.
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