barnburner

The Bank of America Bug

If the Fed wasnt backing the countrywide deal maybe BAC wouldnt have done the deal. Everyone knows about the credit card potential risk hanging over the financial heads of banks but it hasnt happened yet and if things were as bad as touted by the pundits one would think the unraveling would have begun by now. It´s interesting that BAC is going to lay off 7500 employees but there is no talk (yet) of cutting the dividend.