Mounting losses at Countrywide might overwhelm Bank of America. The best strategy, the Deal Professor says, would appear to be to throw Countrywide into bankruptcy.
Buyers for BofA's C.C.B. Stake Not Plentiful
Bank of America is struggling to find a buyer for its 10 percent stake in China Construction Bank, believed to be worth about $17 billion. The lender is encountering difficulties as investors expect the market to soon be saturated by potential buy-ins to Chinese firms, The Financial Times suggests.
Bank of America is struggling to find a buyer for its 10 percent stake in China Construction Bank, believed to be worth about $17 billion. The lender is encountering difficulties as investors expect the market to soon be saturated by potential buy-ins to Chinese firms, The Financial Times suggests.
BofA's Moynihan Takes Meetings in Washington
Bank of America C.E.O. Brian Moynihan has been busy with meetings this week as the bank endeavors to assuage fears over its latest difficulties. According to The Wall Street Journal, the executive notably sat down with Treasury Secretary Timothy Geithner and Federal Reserve governor Daniel Tarullo on Wednesday.
