Bank of America Bags Countrywide

The $4 billion acquisition of Countrywide Financial rescues the U.S.'s largest mortgage lender. BofA chief Ken Lewis calls it a "rare opportunity"
Bank of America CEO Ken Lewis Getty Images

Every go-go period on Wall Street has a spectacular flame-out that comes to symbolize the excesses of the day, from Sam Insull's Middle West Utilities during the Great Depression to in the dot-com era. Now it's Countrywide Financial's (CFC) turn.

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