the money gardener tips us that Bank of America (BAC) is going to keep the dividend policy in place, baring any further unforseen developments–which could very well happen if this happens. (specifically, if “prime” borrows start to default due to similarly ballooning mortgage payments).
at 6%+ yield, BAC should be pretty attractive, especially since the housing market will [eventually] recover and Countrywide will be the go-to for home lending (assuming, of course, there’s not too much backlash and lost reputation from their antics within the subprime lending market).
the 9% gain today would be indication others are thinking the same.
thanks, gardener. 
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