B. of A. should exit Countrywide deal: analyst

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Published at: www.marketwatch.com

Just Walk Away From Countrywide

May 12, 2008

Analysis by: GLG Expert Contributor

Bank of America shareholders would be well served if Bank of America would just walk away from Countrywide.  Why would any bank buy another bank that is hemorrhaging so much?  It doesn't make any sense as to why Bank of America would buy Countrywide if they may write-down another $20 - $30 billion after the deal closes.  That is if you want to call it a deal!          

Countrywide Financial: A Management and Regulatory Failure!

May 9, 2008

Analysis by: GLG Expert Contributor

Implications: 1.The Up-Side of Bank Of America walking away from the Deal - a positive Earnings per Share Ratio for Shareholders.A potential positive savings of the current staus: 2.0% to 9.0%. 2.One other Up-Side - Eliminate a remote possibilty of having to raise additional Capital and maintain an equitable Liquidity position. 3.Impact on Countrywide - Bankruptcy with No Government Intervention.Management with the Deep Pockets must increase the Capital Base with their Personal Assets.Ignorant, at best. 4.Renegotiating the Deal will only magnify the impact on the Financial Marketplace and ALL players in the Financial System may be forced to re-capitalize. A further deterioration is unnecessary! 5.Countrywide's credit quality has a CONSISTENT methodology of Destruction to the Financial Marketplace and the overall economy. 6.A Statement of Historical Content - " Bank of America should, indeed, walk away from the Deal and Apply Sound Business Concepts".