Why Bank of America Hit Another 52 Week Low of $8.03

Reuters Pictures Bank of America, the largest bank in the United States, just can't escape their purchase of CountryWide and the rest of their bad mortgage loans. The stock of BofA (BAC) hit another 52 week low of $8.03. $BAC Just this week the stock is down 16% and for the year it's down 40%. Painful if you're long, lovely if you've short. Now their settlement over a good number of these loans for $8.5 billion is going to look more like $20 billion. And it also looks like Fannie Mae and Freddie Mac are asking for more money

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Tagged 52 week low, bac, bank of america, issue shares, lawsuits, raise capital, settlements