Thursday, January 10, 2008


The news broke at around 2:15 today that Bank of America (BAC) was in "advanced talks" to purchase Countrywide Financial (CFC). According to Yahoo! Finance, Countrywide went from 5.50 a share at 2:14 pm to 8.41 at 2:20. For those of you scoring at home, that's a 53% jump in 6 minutes. Incredible.

Equally incredible was the headline at the time:
"Bofa n Talks to Buy Countrywide"??? WTF?? Did they IM the headline to the editor or something?