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BofA exorcises ghost of Countrywide

The bill for Kenneth Lewis's folly has at last been paid

Bank of America has finally made it to No.1

Back when the bank struck its deal to purchase Countrywide Financial in 2008, then-chief Kenneth Lewis explained the strategy was simply to make Bank of America "No. 1" in mortgage lending. That didn't happen. BofA is now the third-largest mortgage lender, behind Wells Fargo JP Morgan Chase.

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