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OCC: BOA Can't Convert Countrywide Securities Into Cmn Stock

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OCC: BOA Can't Convert Countrywide Securities Into Cmn Stock

 
WASHINGTON -(Dow Jones)- Bank of America Corp. (BAC) can't convert its $2 billion investment in Countrywide Financial Corp. (CFC) into common stock, the Office of the Comptroller of the Currency said in its letter approving the investment ...

I wonder if this is a prelude to a LBO of Countrywide by BofA.
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