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Entries tagged "Countrywide"Dodd on the hot seatConnecticut's senior senator may face a challenging re-election bid because of his connection to the financial crisis. Is Bank of America headed in Citi's direction?It looks like the The U.S. government (AKA Daddy Warbucks now-a-days) is digging into its pockets to help another "too-big-to-fail" struggling bank, Bank of America Corp. That's right. Bank of America could be following Citigroup Inc.'s precedent and get a second bailout from the Treasury's $700 billion Troubled Asset Relief Program fund, according to The Wall Street Journal.... Why Lewis, and not Dimon for Banker of the Year?Trade publication American Banker has announced its Banker of the Year, and on Dec. 4 Bank of America Corp. CEO Ken Lewis (pictured) will formally accept the honor (for the second time) at an awards gala at the Plaza Hotel. Might this cause some folks to roll their eyes? Likely since, after all, Lewis was the same guy who had the audacity to appear on "60 Minutes" last week and tell Leslie Stahl it was his patriotic duty to take an investment from Treasury Department. Since one of American Banker's reasons for choosing Lewis, who first won the award... Bank of America to raise $10B in offeringThe U.S. banking industry took another blow as Bank of America Corp. announced that quarterly earnings dropped 68% Monday, causing the company's shares to slip 9.3% to $29.25 before the market opened on Tuesday.... BofA's Countrywide deal could be a stealWhen the storm surrounding the financial services industry clears, Bank of America Corp.'s $4 billion acquisition of mortgage lender Countrywide Financial Corp. may be looked at as one of the biggest all-time steals of deal history. ... The Deal Calendar: June 23-27, 2008The Deal's Mary Kathleen Flynn and Suzanne Stevens discuss everything you need to know about dealmaking events for the week of June 23, 2008. ... Frank to media: Dodd's VIP Countrywide treatment is not a big dealIs it a problem that Senate Banking Committee Chairman Christopher Dodd, D-Conn., got a special discount on his two housing loans as part of Countrywide Financial Corp.'s VIP program? ... Bear, Countrywide get a bullish boostDeal Stocks and the broader market overall got a modest lift Thursday due in part to much needed fuel price relief. Crude oil logged its biggest single-day drop in over two months, falling $4.41 to settle at $126.62 on the New York Mercantile Exchange. The Dow Jones Industrial Average went the opposite direction, picking up 52.19 points to close at 12,646.22. The news sent some relief to troubled financial services firms. ... As the Bull charges, Cnet leads Deal StocksDeal Stocks and the broader market ticked up on Thursday, as the looming dark cloud that is fuel prices looked a bit brighter with crude oil dropping 10 cents to close at $124.12 per barrel on the New York Mercantile Exchange. The Dow Jones Industrial Average logged its second straight gain, climbing 94.28 points to close at 12,992.66. ... Battered home lenders relatively unscathed by paltry housing newsInvestors in battered home lenders Countrywide Financial Corp. and Washington Mutual Inc. did not pick up and run Tuesday despite adverse housing market conditions and a whopping loss taken by Countrywide. The Dow Jones Industrial Average slipped 39.81 points on Tuesday to close at 12,831.94, weighed down by news that the number of U.S. homes heading toward foreclosure in the first quarter skyrocketed 112% over the year-ago period.... Activist hedge fund SRM boosts Countrywide stakeActivist investor SRM Global Master Fund in an April 16 amended 13D filing reported it increased its stake in troubled lender Countrywide Financial Corp. to 8.13% from a prior 5.48%. ... Deal Stocks end week with a fizzleThe U.S. Commerce Department's report on soft consumer spending contributed to the battering Wall Street has taken this week. Following two straight days of 100-plus point declines, the Dow Jones Industrial Average lost 86.06 points Friday to close at 12,216.40 as the Commerce Department said consumer spending was down 0.1% last month, representing the weakest personal spending growth in just over a year-and-a-half. Deal Stocks were no exception to this market sell-off. ... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "Countrywide." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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