BAC definitely could have gotten MER much cheaper if they waiting a few days but who knows if that would have killed the brand name if they were on the verge of liquidation. BAC will go through some tough times just like everyone else the next few quarters. Who knows maybe even years. But valuations have gotten to a point where you have to start ignoring the media and start dipping your feet in the water. I'm not a buyer just yet but the way to play this is to start writing puts a year out. About a month ago I wrote puts on the Jan 2010 $7.50 Strike for $1.61. And just the other day wrote some on the Jan 2010 $12.50 strike at $2.54. Take advantage of the volatility. This is safer than buying the stock outright.