WSJ like CNBC are in the pockets of GS/JPM but what garbage are they spewing about BAC? This the last big lawsuit to be paid out so what other BS are they talking about?
Politicians don't _WANT_ things to get better. They thrive on crisis: "NEVER LET A CRISIS GO TO WASTE!" -Rham Emanuel
Even the bureauacracy has gotten in on the game - - they aren't supposed to be dabbling in politics but they can't resist it and they've figured out that thy can't be fired, anymore !
Wake up and smell the coffee, folks. Trying to invest in America is a risky undertaking with the government picking the winners and losers.
I love BAC, man, but don't be lulled into complacency. The government has unlmited ability to bring BAC down - - not because BAC's guilty but because they _CAN_. The Republican party is just as opportunistic as the Democratic party. It's not about helping widows, orphans, and retirees. It is about poliitical advantage - - selling the notion that by spanking BAC, the country will somehow get better (...look Hillary! We're mak'n jobs!) - - (spank!) (spank!) (spank!). Of course, with that attitude, the country will only get worse and decline into constritutional crisis and revolution.
Actually you have a good point, the headline is awful, however if you read the article it simply makes the case for BAC's share prices will have a tough row to hoe in that their earnings gains over the next year will come from cutting expenses.
The headline is extremely misleading!
The majority of large banks I follow are not growing revenues by that much if at all, albeit the yoy comps starting with this q' report will be much easier.
The article simply states BAC' share price will continue to struggle because next years earnings growth will come from cutting costs. Actually what he says is true, unless rates increase and the economy stagnates.
BUT, this is something that all of us on this board can agree with, unfortunately frequently on this board there are many people that think BAC' share price will go back to $18 the next week after we settle..... there simply is no reason to be overly optimistic, after all wall street has already priced in an end to this present litigation.
There is still some pending investigations/litigation concerning Libor manipulation, and maybe a few more small mortgage suits, but I'm not aware of any of the magnitude of the recent settlements.
"There is still some pending investigations/litigation concerning Libor manipulation"
That was then. This is now with BAC sporting at a 39.5 PE.
Bank of America taking $400M litigation charge
NEW YORK (AP) - Bank of America says it is taking a $400 million charge to cover additional litigation costs and cut its results for the third quarter.