BAC is really not the company I would invest in current conditions. It is loosing quarterly in tens of billions which is more than it's current valuation. In other words, it is bankrupt.. only thing it is saving is it's big size. It's so big that govt will not allow it to fail.. but there is a good possibility that all stock holders may get wiped out in the process and govt will take over this bank. !!
How many banks has the government taken over so far in this crisis? Are you speculating this will happen?
You are saying the bank is losing 10s of billions of $$s quarterly. Can you show me the proof or a link to this?
fundamentally they are one of the better capitalized big banks in the country.According to their conference call transcript they have sufficent liquidity to last over 30 months. All of the so called toxic assets they acquired through countrywide and Mer have either been substantially written down or guaranteed by the gov't. They have numerous assets which could be sold to improve capital further. The only bad thing about them as I see it is they have incurred the ire of CNBC by firing cnbc's favorite son,John Thain, and they have been bashed all day every day for it.