by Calculated Risk on 1/10/2008 05:22:00 PM

Herb Greenberg writes: The Real Story on Countrywide...

We’ll know it soon enough, but ... several things would appear apparent ...:

1. The Fed is behind the deal.
2. The Fed is behind the deal because the rumors yesterday of a near bankruptcy were probably true.
3. As part of the deal, the Fed likely agrees to guarantee BofA against Countrywide-related losses.

Read his eight points. Interesting speculation.