User 188216

An Involuntary Transaction: Why BAC + CFC May Never Close

Enter your comment here You seem to leave out quite alot of real information regarding the merger, for example BAC's S4 filing regarding the debt is standard in bank mergers , it's called a reverse triangular merger, second CFC has 20+ billion cushion against writedowns in addition to 6 billion in NOL's. Regarding the litigation, the entire industry is at fault and finally perhaps K Lewis has a 10 year view, not a daily view which is really all your vision allows.
What about the Credit default swaps trading at only 300 bp's over?

Are Countrywide Financial Bond Holders Bankruptcy Remote?

Smart investor is correct, and in answer to your question, When was the last time you saw a statement like this in a bank M&A transaction, see the Moody's press release Friday, for they explain BAC has done this before in prior acquisitions.