Countrywide Trust Preferreds: A Better Way to Go [View article]
Luckikaziee -- You are absolutely correct. My point is that if the purchase closes, there is a high degree of certainty as to what the CFC trust preferred is worth. It is possible, however, that the deal closes and either because of a change in the number of BAC shares received, or the price of BAC shares themselves, that even at this price a purchase of CFC common is a losing trade.
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Good work.
Countrywide Trust Preferreds: A Better Way to Go [View article]