Regarding their recent decision to purchase Countrywide, America's largest home lender.

There has been much speculation on the topic for good reason. Countywide is a very large financial insitution. If it were to collapse it would be a large chunk of the economy down with it. More than 7% of Cw's Loans are in default.

Personally, I am satisfied with the arrangement. Not only has the economy been spared another horrible blow, but this also means that my most agressive competitor will be a bit less agressive.

CW compete's with Brokers...

Something that Bank of America does not have a track record of doing. I suspect that BOA will keep the many of CW the mini-shops around for the long hall, I just don't think that BOA will take as many risks as CW has in the recent past.

BOA knows that that got a steal as the markets will be rebounding shortly and they aquired CW well below market value.

As the markets adjust and rebound BOA will be poised to dominate not only the National Banking scene, but also the National Mortgage Banking scene.