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Obviously the numbers crunchers at B of A aren’t the sharpest pencils in the box.  With all of their financial degrees and accounting acumen these guys appear to be way off on their valuations. In August they bought 2 billion dollars worth of stock at $18.00 per and today the stock is trading for around 5 bucks, that’s about a 72% loss of value.  If I was a B of A shareholder I would certainly be questioning the wisdom of their acquisition.  read the Forbes article here.

If I were B of A and wanting to do a deal with Countrywide I would wait until the FBI and other Federal agencies have completed their  investigations of the company.

Mortgage industry focus of feds’ probe

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