Market Dispatches - MSN Money: "Bank of America is the one coming to Countrywide Financial's rescue. Bank of America is making a $2 billion investment into the battered mortgage lender, through convertible preferred shares of the stock. 'This investment reflects our confidence in their business and recognizes the importance of the company in providing home financing across the country,' Bank of America Chief Executive Officer Kenneth Lewis said in a statement late Wednesday. 'We hope this investment will be a step toward a return to more normal liquidity in the mortgage markets.'"
August 23, 2007
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