Here we go …
- Bank of America buys Countrywide Financial in a stock deal for 4 bln$.
- JP Morgan is rumoured to snap up Washington Mutual or somebody else. CNBC says, they want to do something!
- Buffett is said to consider buying a troubled bond insurer.
Ok, we used to see Asian and Arab money buying […]

NY Times has a story, that Merill Lynch will have to take Q4 write offs of around 15(!!!) bln $ … just double of expectations …
AXP takes surprisingly another charge and trades down close to 8% … showing, that subprime really spills over now.
As I mentioned yesterday, the BoA story is NOT positive at first […]

The story still drags on … but now a decision could be close.
Some thing are close to unbelievable, but true.
The troubled lender owes 50(!!!) bln $ to the BoE and still has no foot firmly on the ground. (BoA guys, read on )
But it is not the size, which makes me rub my eyes […]

Bank of America is close to buying Countrywide Financial (WSJ) … Countrywide is said to need around 4 bln$ fresh capital … AGAIN … within next weeks.
Interestingly enough, Bank of America, sits 1.5bln$ in the red on this “trade” and sees, the market cap of CFC (even after a more than 50% rise today) is […]

Every Trader and every Investor KNOWS it … NEVER touch a falling knive …
BUT:
Even the RICH do it …
Examples?
Bank of America bought a stake in Countrywide Financial … thinking, it was cheap … RESULT … the stock is (SINCE THEN!!!) OFF AROUND 75% …
Warburg bought a stake in MBIA, the bond insurer … […]

How entertaining TV can be … yesterday … CNBC … declared war on the housing mess … it seems to be a common thing for Americans to declare war on anything which is “disturbing” … So the program shows HOUSE FRONT …
Maria wears a matching jacket to Mozilo’s tie … how sweet …
This […]

- All eyes on the FED … Tuesday will be the first time the Fed will use its “new” communication tool … forcasting for the next 3 years instead of 2 (if I remember right, they sometimes cannot foresee 2 weeks) … having each member forcast 4 indicators … then cut the highest 3 and […]