Countrywide

Bank of America CEO Ken Lewis is fighting to keep his job because earnings at his company have plummeted. BofA's acquisition of Merrill Lynch has been a large part of the problem.  Now, understanding that he is being made out to be the fall…

Last summer, as a number of sinister revelations were made about the goings-on in the financial services sector, I speculated that we would definitely see the government going after individual executives for illegal activities. I saw…

Now that the government has bailed out Bank of America, I want to remind you that this Bank is a serial acquirer and that the Merrill acquisition is not the only boneheaded move by Bank of America.

When we have a major economic dislocation, there is always some aspect of criminal behavior involved. As a result, the governmental authorities look for specific companies and individuals to use as scapegoats for all of the ills of the…

When lenders violate the U.S. federal lending disclosure laws, they may get stuck with the loan losses. This is the case now being argued before the courts in Wisconsin, with major implications on the number of cases to be filed and the…

From the Wall Street Journal: Florida Sues CountrywideThe Florida attorney general has filed a lawsuit against Countrywide Financial Corp. and its chief executive, Angelo Mozilo, alleging that the company engaged in deceptive and unfair…

The suits are piling up. Angelo Mozilo is looking like the new Ken Lay for Washington.California's attorney general has filed a civil lawsuit alleging that Countrywide Financial Corp. engaged in deceptive advertising and unfair…

Of all the merger decisions in the banking industry of late, BofA's decision to back Countrywide Financial is the most risky. The fallout from Countrywide only gets worse day by day. I am astounded that this deal is on track. BofA…

You kind of saw this one coming. Bank of America is crazy to take Countrywide Financial's balance sheet onto its books. Apparently, S&P Equity Research agrees and correctly downgraded BofA to a sell rating because of the risk. Note:…

It looks like the BofA-Countrywide deal is still on. In fact, BofA is making room for some of the Countrywide executives in its own executive suite. I reckon we will look back on this deal as a very bad call by BofA.Bank of America Corp.…