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Bank of America Corporation Message Board

  • christinemiddleton1 christinemiddleton1 Sep 9, 2011 11:25 AM Flag

    $3.50 on Monday

    CEO lies, what else is he hiding??? only when exposed does he admit to failure to protect his brass.

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    • Great point, apparently things are bad enough at BAC that Moynihan is not going to come out and publiccaly admit to it or go tino any depth on the issue unless he is forced too.
      Survival drives this dynamic. If he were to come out and paint avivid picture of the situation, my guess is that there would be a run on the Stock price, big time.
      I do belive some who say things are better than in 2008 but in 2008 NO ONE KNEW the magnitude of the MORTGAGE problem and this issue persist today!
      I think the FED/DC/ and BAC were willing to risk everything hoping time would cure the mortgage problem but it has failed.
      Now the news is slowly but surely painting a much more accurate picture, Countrywide is DOA and anyone and everyone who had anything to do with toxic paper is going to pay the price if they haven't already.
      BAC will not go belly up, the FED will bail them out again via taxpayers if it comes to that but you can bet that the stock price is headed not just down, WAY DOWN if that scenario plays out.
      A bailout buys more time, makes investors whole, be they Norway, or Ca.Pension groups.......its a way for the GOV'T to place blame on the banks but to help without admitting any guilt...IE the CRA the feds pushed onto banks for lending to previousl unacceptable risks in the mortgage arena.
      All IMHO of course but seeing BAC drop to its knees around 3 to 4 bucks is in the cards in my view.

    • Don't believe that will happen. However if you think Cris Wallen has any credibility, could go alot lower. He said in his comments they should take bankruptycy, would wipe out all the lawsuits & give them a chance to restructure like GM. Alot difference opinons out there on the future of BAC. Anyway you look at it, a mess, IMHO>

      • 1 Reply to bookerone2000
      • Agree...I mean the only way for BAC to stave off the alligators is going to be Bankruptcy...a controlled bankruptcy like GM as you say. Common shareholders will get dumped.
        How likely is this, well everyone who owned toxic mrtgage paper is now rising to the surface to get some money back! IE NORWAY and we haven't really seen State Pension's begin lining up etc. Let alone ASIA who owns alot of that paper.

        I lost alot of money on this dog. I didn't see the writing on the wall until Moynihan said we need no CAP only to turn around and raise as juch CAP in as short a time period as he could!
        You just don't do that unless there are real issues.

        Maybe I'm wrong, i don't know, but I won't have to lose anymore money to find out!
        10k layoffs to now 40k!??? Wow, thats a bit of an overnight change!

        Until the DELIBERATE FOG lifts, this stock is too risky for me.

        All IMHO of course.

    • Are you a blond? Noway can bac fall that much by Monday.lol

 
BAC
16.21-0.12(-0.73%)2:18 PMEDT

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