Bad Credit? - Repair it here yourself!

There're many reasons you may want help for bad credit. We're here to help you understand what affects credit, what makes credit bad, how and what entities define your credit, guide you through the credit definitions, financial concepts, common misconceptions and provide you with information and tools that will help to solve your credit problems. Get help for bad credit now! To achieve this, we provide you with Free Access to a wealth of credit related content, forms, tools and calculators. We show you how to improve your bad credit step by step, reestablish your ability to borrow monies, how and where obtain loans, credit cards, mortgages and other financing. Repair Credit now!

Bank of America buys Countrywide, WaMu is in talks with JP Morgan Chase

Fri Jan 11, 2008 10:01AM | By Tony

See more in Economy | Permalink | Email | Comments (0)

Bank of America, which roots can be traced to the Bank of Italy founded in 1904 by smart Italian American Amadeo Pietro Giannini, has already paid $21 billion for ABN Amro North America and Chicago based LaSalle Bank just this summer, $35 billions for MBNA in 2005 and whopping $47 billion for FleetBoston Financial in 2004.

So shedding something over puny $6.1 billions total for Countrywide is just a pocket change. According to Wall Street Journal, for federal approval, the deal could depend on exploiting a little-known regulatory provision to allow the merged bank to hold more than 10% of the nation's deposits, but who expects the government block this deal, where Bank of America plays the role of knight and saviour.

And now Washington Mutual which used to buy any mortgage lender it could get the hands on, has held very preliminary merger talks with JP Morgan Chase, but no deal is supposedly imminent. Ya, right, just last month, Washington Mutual announced it would cut its dividend and more than 3,000 jobs and raise up to $2.5 billion in fresh capital.

Post a comment

Name:

Email:

URL:

Remember personal info?

Comments:

Please enter the code as seen in the image above to post your comment: