Tue
Apr 29 2008
02:51 pm
By: R. Neal
Countrywide Financial Corp., which is being acquired by Bank of America Corp., reports a first-quarter net loss of $893 million, or $1.60 per diluted share.
The report says their provision for bad loans increased 888% to $1.5 billion. Yikes!
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regs
I blame the onerous and too strict banking and finance regulations myself.
We need to get government out of the business of business.
/snark
"When the going gets weird, the weird turn pro."
Hunter S. Thompson