Bank of America Lost $40 Billion

Bank of America Has Lost $40+ Billion Since Acquiring Countrywide for $2.5 Billion 4 Years Ago

It’s long been said that it is more important to avoid bad investments than it is to find good investments.  “A single bad deal can wipe out a lifetime of work,” or so the sentiment goes.  There is a great truth in that.  It was the first thing I thought of this morning when I read the Wall Street Journal coverage of the Bank of America / Countrywide Mortgage merger four years ago.