What a joke!!!

Wachovia Halts Wholesale Mortgages; Bank of America Won't Guarantee Countryside Debt

You didn't even correctly type the name "Countrywide" in this title. The reporting goes downhill from there.

Why would company that purchases the stock of another company "guarantee" its obligations if not legally required to do so? If I buy 100% of the stock of XYZ company, am I supposed to personally guarantee all of its debt? Of course not.

Today BAC CEO Ken Lewis said during the earnings call "we understand the ramifications of not honoring Countrywide's debt." Those ramifications would include BAC never issuing debt again, endless litigation by stiffed creditors and, of course, never acquiring a company again.

Please consider all the facts. Thank you.