Summary
CALABASAS - Countrywide Financial Corp.'s tortured downward spiral ended Friday as Bank of America said it would pay $4.1 billion for the cash-strapped mortgage lender.
It was still unclear Friday how the buyout would affect employees at Countrywide's corporate headquarters in Calabasas, but economists anticipated there would be some layoffs in California.See the full content of this document
Extract
Bofa to Buy Home Lender
The deal ultimately wrests control of the company, once a profit juggernaut, from Angelo R. Mozilo, who along with David Loeb co- founded the enterprise as Countrywide Credit Industries on March 14, 1969, in New York City.
"We believe th...See the full content of this document
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