amfads, C and BAC raised their tier I capital ratio by a huge some by converting most of their pref. shares into common. Pref shares are carried on the balance sheet as a liability. When converted liability decreases and assets increase, as well as tier I capital ratio.
Todays move was the first step, earnings and full conversion of the private pref should follow shortly. Have some patients. I bought 35K shares and that equaled to almost 20% of total shares traded today. Lets put it in perspective. There are currently 40M shares floating. Todays trade total was 200k, which is 1/2% turnover. That's a VERY low turnover ratio compared to any other stock. Tells me that most are on the sideline and waiting. Relax and kick back, the promise land is within reach.