EvaluatingStocks.com | Stock picks, the stock market, stock quotes and more!

Bank of America bailed out the nation’s largest mortgage company, Countrywide Financial, today in a $2 billion equity deal. In addition to almost $12 billion borrowed from an assortment of other banks, the deal served to fortify the lender’s financials and fund ongoing operations. For many investors, the move was positive, as it signaled renewed faith in a market hard hit by fallout from loose lending practices. The S&P closed up 1.17% while the Dow and Nasdaq gained 1.11% and 1.25% respectively.