The only place success comes before work is in the dictionary.
In the news:
Bank of America, which said it would buy Countrywide Financial Corp in January, said there was no assurance any of the mortgage lender's outstanding debt would be redeemed, assumed or guaranteed. Countrywide had outstanding debt of about $97.23 billion as of Dec 31, including Federal Home Loan Bank advances to Countrywide Bank of about $47.68 billion, which it expects will remain outstanding until repaid by Countrywide Bank.
The Fed boosted its biweekly Term Auction Facility operations by 50% to $75 billion. It also raised the amount of dollars it makes available to the European Central Bank and Swiss National Bank through swap lines to a combined $62 billion from $36 billion.
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