Bank of America (BAC) would consider putting its Countrywide unit into bankruptcy if litigation...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Bank of America (BAC) would consider putting its Countrywide unit into bankruptcy if litigation losses continue to threaten the entire firm, according to sources. It's the "nuclear" option says analyst Mike Mayo, "And if you pull out the bazooka, you'd better be prepared to use it."