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Bank of America buys Countrywide

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Moving towards global government or global ownership?

US banking giant, Bank of America, is to take over the country's biggest mortgage lender, Countrywide Financial, in a $4bn (£2.04bn) deal.

Analysts said the deal was a lifeline for Countrywide, which was rumoured to be close to bankruptcy.

the rest...


http://news.bbc.co.uk/2/hi/business/7183221.stm


 
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