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Bank of America Corporation Message Board

  • caroleg4you caroleg4you Feb 1, 2009 11:33 AM Flag

    BOA Pushed to buy ML?

    I am new to message boards and have a question. I keep reading here that BOA was "pushed" into buying ML by the Treasury. How can we know? Is there evidence or just speculation? IF true, would not that be a very positive sign that BOA common stock be saved? It seems to me that IF common is dead the market would nose dive from the thought of Nationalization. Am I wrong here? I've found some interesting perspectives on this board at times and would appreciate any "non joke" input from you folks. I am a small fry investor stuck long at $23.00. Thanks for your thoughts.

    "The Buffster"

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    • I have certainly heard that BAC was encouraged to buy them. As far as what to do now. You have to stay in and ride it out. Hope the stock can get back to where you bought it within two years. i bought some in the $16 per share range and a two times that number of shares at $8.10 per share. I will ride this out most likely, at least untill I can get back what I have in.

    • Go to BAC website and listen to the CC,Lewis talks about how they were gonna walk away,its all on the call.
      Ps also on the call an analyst asked what BACS book value is=$9.95
      Go listen to the call you will get better facts than most garbage on this board.
      Click on investor relations and listen to the CC.

    • Buffster:

      You will have to ride this out. In 2 years you might be back to even. There is no way to determine the BAC/ML deal and yes I believe that the Fed was involved with this deal because of the speed in which it took place. People are talking bad bank this bad bank that. Its obvious that the gov't took steps down this road a year ago.
      Just remember this. Any scenerio under the Obama plan is good for BAC shares...bad bank, bailouts, etc...

      I believe nationalization of banks would destroy the share price to zero. However, nationalization comes only if the "bank bank" scenerio fails...which is years down the road. I think next year at this time, BAC shares are doubled at a minimum.

      hopefully this sheds some light on the topic

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