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Page 2 of 2 Fortunes changing The company's fortunes may have changed in a week's time and now there is the possibility that Bank of America could end up owning Countrywide. "Bank of America and Countrywide: Brilliant! You can take your BAC (Bank of America earnings) estimates and raise them big. And you can take CFC's bankruptcy off the table once and for all," said Jim Cramer, a commentator at The Street.com in a posting on MarketWatch.com. He noted that when the Federal Reserve Board cut a key interest rate this week, it gave Countrywide some breathing room. "That meant that someone, someone with capital was going to buy CFC and own the origination market," the posting said. Rumors that Bank of America was courting Countrywide surfaced last January in what at that time would have been a $30 billion deal. Mozilo founded Countrywide in Glendale in 1969 and since then has grown it into a diversified financial company. Its business lines include banking credit reports and insurance. Bank of America is one of the world's largest financial institutions with 57 million consumers and 5,700 retail banking offices in the U.S.
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