why did BAC give buffet all the shares at $7, there must of been run on the bank potential?
They didn't seem to need any money at the time. My only guess is that there were fears there could be a run on the bank. Why else would they give buffet all those millions and millions of warrants at $7?? I wonder what was going on inside the bank at that time? Remember that was shortly after that report came out talking about all the mortgage put backs that they were on the hook for. I am very curious.
that is not true. you had planty chances of owning bac below 7. CEO's comments is very critical. my interpretation is fed is willing to do everything to make banks profitable. my personal target for bac is 23. considering my average at 8.73, this should throw me into 18% tax bucket. of cause, i will load more if bac is pulling back in january. a meaningful housing rebound would be critical for the 2nd half of 2013. Get yourself together and run for 2013.