Bank of America has tons of cash. You don't sell the stock of the largest bank below $12.
They stop foreclosures. Who cares? It will be restarted in no time. Many would hope for a few months? Why? To heal the economy dear.
How? All those houses will not be on the market and the real estate prices will go up sharply. There will be not enough houses on the market. It is my theory.
Chi Chi Chi le le le Viva Chile !!!!
Bought long BAC shares to my ETFC account today and this is my disclosure.
Will buy more BAC shares from my 401K account on Monday, if BAC trades below $12.50 and my money is available in that account after the last sale of another stock. This is my disclosure also.
My opinion below: You don't want to miss the opportunity to buy BAC shares that cheap. imho
Do you share my point of view?
Even if they are forced to buy back the MBS's. There will be litigation. The original purchaser of the CDO will only want to give back the non performing parts and not the performing ones. BofA will then sue, saying we will take them all back including the performing parts since that was the way they were bundled. The litigation will last for years and, I believe, they will end up breaking even over the long run.
You are absolutely right! Think about it, they didn't have to disclose this! Basically, they notarized the documents w/an assigned notary signature! Big deal! I too plan on buying BACPRW pays 7% if lower on Monday or at close. Hey, their not going under, the government won't let them, they paid back their tarp, their sitting on money.........and who's going to sue them....the guy that couldn't pay his house payment for 2 years! Let's be smart about this once and for all and make a few dollars on this blown up media crap! I will.....if you don't, I'll bet you in a month (particularly after November 2) you'll be sorry.
I held back before during the crisis, I could have been rich w/the rest, but no....I believed everything that was exploited in the papers. BAC is not going under....let's make some money!
I think you tried that in August. Didn't you. And then you cried:
"I have to recover my losses. Bought higher. Sold at 12.49 with loss counting on a pullback... Bought at 13.25 (cash) and added at 13.40 on margin."
So, you are doing the same thing again and expecting a different result? LOL. There is a definition for that. You know...