Comment: My criticism of the BOA deal is not buying at low prices but that they made an earlier "purchase" just a few months back on Countrywide. On August 23, 2007 BOA announced a US$2 billion dollar repurchase agreement for Countrywide. This purchase of preferred stock is arranged to provide a return on investment of 7.25% per annum and provides the option to purchase common stock at a price of US$18 per share. In just less than 5 months the stock tank below US$5, hence they are buying the whole company now. What I was getting at is that they read the sub prime mess totally wrong just a few months back. Now their hands are dirty and they cannot not buy the whole company at US$5. However, no mention of their previous purchase, why? They must at least explain why they got it wrong, and why they think it is OK now.