Bank of America May Withhold Guarantee on Countrywide's Debt

Discussion in 'Trading' started by moneyman22, May 2, 2008.

  1. This happens and we have a bond market collapse on our hands.....

    Bank of America= Oh Uncle Ben...We want are guarantee just like you gave JP Morgan.


    Right when all the retards put their Bull horns back on....Welcome back to reality suckers...


    May 2 (Bloomberg) -- Bank of America Corp., the second- biggest U.S. bank, said it may not guarantee $38.1 billion of Countrywide Financial Corp.'s debt after taking over the mortgage lender, fueling speculation that Countrywide's bondholders face renewed risk of default. `If bondholders get stiffed by Bank of America, it will scare the hell out of everyone,'' Whalen said. ``This is called thinking the unthinkable.''
    http://www.bloomberg.com/apps/news?pid=20601087&sid=a0qQd39LDl7c&refer=home
     
  2. if bonds sell off then 30 yr mtg rates will come down for a while like janurary-time for another leg down in the market-bear rally