I think half of the bank of america settlement money should go towered share buybacks. Shares are selling so well below book value.
I think they will consentrate more on getting their AAA back before they do a meaningful sized share buyback.
I'd rather see them concentrate on getting more settlements :-)DB is a prime target since the feds are investigating it.
I think the new rating cap is 'AA'. As they get more settlements or the structured book rolls off, the reserves can be better used to reduce shares given that future earnings will be lower.