It makes sense that BAC would gradually retire CountryWide at lower prices. There are periodic large block buys of shares, that could be BAC stepping in. Without inside information, there is no way to know the identity of large block buyers. After Dodd-Frank started the clock for retiring trust preferred as tier 1 capital, it is to BAC's cost advantage to begin retirement of CountryWide shares. I expect the price of CountryWide to gradually increase over the next few years moves closer to the deadline phase out of trust preferred since trust preferred will cost banks interest while being a drag against their tier 1.