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Bank of America Corporation Message Board

  • wizard2009 wizard2009 Feb 3, 2009 6:02 PM Flag

    This Article SHOULD calm fears... It did for me!

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    • Also, the FED would have been more sympathetic to this Lewis prick's cause if he hadn't used TARP money to buy a large stake in the fuc king bank of CHINA...What a co*ksuccer!

    • Yes, this sounds like his predecesor:

      "Subprime is well contained"
      "Banks are well capitalized"
      .
      .
      .
      Take it from someone who doesn't lie to you, they are BROKE and they are broke beyond governments ability to fund. Maby this would have been possible before FRE, FNM and AIG. Now its too late. Estimates for taking these bad assets off the banks books are between $2-4Trillion. The fed took $6Trillion liebility with FRE,FNM and AIG...Can't take anymore debt as it risks the Treasury credit downgrade...It can't be done, period!
      Get the fuck out and stop trying to convince yourself away from reality!

    • Have FRE, FNM, AIG been nationalized? Where is the common stock right now? There is where bac goes. I hope you sleep better now

      • 1 Reply to jbl2224
      • There is NOT where BAC will go. BAC is not AIG FNM in the sense that it didn't start with a truck load of toxic assets and derivatives. The only sin was to buy MER. Plus, wiping out bank stock equity works against installing confidence. If anything, the government wants to do less running banks. It works against what this country stands for. Fundamentally, BAC will survive and will benefit the most from the housing/economic recovery which we will witness in our lifetime. The housing market has bit or is near the bottom with private investors finally stepped in snapping up depressed properties. BAC won't need another bail out and this fear of nationalization is all it needs to put a bottom to this stock price to a level that people who believe in true capitalism will come out a winner. Disclosure in at 6.35 and 5.5.

    • I hope that is true but it dated 1/28 and things have changed give BAC market price. Today's online WSJ has this article:

      By Donna Kardos
      Of DOW JONES NEWSWIRES

      NEW YORK (Dow Jones)--Shares of Bank of America Corp. (BAC) fell as much as 12% Monday as investors digested a note from FBR Capital Markets that suggests the "bad bank" policy being considered will not work for big banks, and an alternative plan that would involve closing big banks would.

      The note raised new concerns among investors, who have already been worried Bank of America took on more than it could handle in acquiring Merrill Lynch.

      That what cause the run in BAC stock price. Further in another article it said that Obama was going to decide this weekend if he is going nationalized which banks only two C or BAC or take alternative actions. So we will know by middle of next week. If we are nationalized the stock will probably go to $2 a share is my guess if they diluted the shares by 79%. If it is clear of being nationalized; I see it going back to the $12 range at least. It's too bad the CEO Lewis does not come out and make a statement like we do not need any more TARP money! That will sent BAC stock back to the $20s!

      Good luck to all!

    • Psst don't show that to the shorts let them dig their own hole.
      Cheers good luck on your investments>

 
BAC
15.52-0.07(-0.45%)Mar 30 4:04 PMEDT