Whats your opinion on risks ociated with buying Countrywide Financial for the Bank of America acquisition?

There are risks to doing this besides the ones you have mentioned. One is that banking financials may continue to deteriorate during the next 2 years or more. I don't know if you caught the latest release by American Express. Their credit card business is deteriorating. BAC is one of the largest credit card issuers in the U S and their custome base is not nearly so well healed as American Express's. Also BAC may be biting off more than they can chew with Countrywide. Everyone said that Countrywide was not going to be affected by subprime problems because they did not issue subprime loans. Everyone was apparently wrong. I wonder just how wrong everyone might be?? This whole thing seems like a very risky proposition for BAC. It looks more like good money chasing bad that a good investment.