BAC $2 bil stake on CFC

--20,000 shares of CFC's non-voting preferred stock, convertible to about 111 mil (18% statke) shares. Yileld at 7.25%. it is expensive source of capital. Damn good deal for BAC. --home mortage business lurches from boom to bust every few years, requiring lenders to boost staffing quickly for good times and lay off people amid tough periods --CFC's advantage: technology