tag:blogger.com,1999:blog-8914063486189106024.post4058631343915139508..comments2022-12-05T01:49:09.035-05:00Comments on The Rollins Financial Blog: Looking at Bank of America and CountrywideRollins Financial Advisors, LLChttp://www.blogger.com/profile/02086309052329953428noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8914063486189106024.post-90782887000230494432008-07-24T11:48:00.000-04:002008-07-24T11:48:00.000-04:00Bank of America will be ultimately responsible. M...Bank of America will be ultimately responsible. Much like when Bear Stearns was acquired by JP Morgan Chase, JP Morgan Chase assumed the liability of the lawsuits, and they have raised their litigation reserve in response to the pending lawsuits. <BR/><BR/>It would be normal to think that Bank of America would do the same in acquiring Countrywide. There would undoubtedly be some liability insurance for the directors of the board anyway.<BR/><BR/>One would imagine that some of these considerations were also made when putting together a final figure for the acquisition. BAC will now control 20-25% of the mortgage loan market, and they believe that will be much more lucrative than any lawsuits.<BR/><BR/>Thanks for your comments.Rollins Financial Advisors, LLChttps://www.blogger.com/profile/02086309052329953428noreply@blogger.comtag:blogger.com,1999:blog-8914063486189106024.post-74386292704980311592008-07-24T10:08:00.000-04:002008-07-24T10:08:00.000-04:00Thanks for the explanation of why BAC wanted PR pl...Thanks for the explanation of why BAC wanted PR plaqued Countrywide. I never quite got it all. Who is dealing with the lawsuits filed by various states against Countrywide?Anonymousnoreply@blogger.com