The stock traded yesterday at half of book value, a measure of assets minus liabilities
Government will make someone pay. 'There will be blood!' It ain't coming out of my pocket or any person or individual else riots and protest in the streets. Take it out of corporations (BAC is the weakest link in the bank chain and for sure GS will not let that happen to GS).
If you want to hedge BAC, buy AIG (or Freddie and Fannie preferred)