great analysis by #$%$ Bove.
Big Banks leaving New York and they should.
Attorney Generals of NY always making a name for themselves,
creating political capital. But out of control politics and TAXES.
Good banks acquired the rotten banks/assets during the financial crash in 2008,
thereby taking them off the US governments problem list. CEO of bad banks removed.
NY sues good banks for 13% bad assets that went under.
Dodd / Frank Bill was the ORIGINAL culprit, modifying the US Community Re-Investment Act,
which had been good, FORCED large banks to make more Jumbo loans, that they would not
have done otherwise, so that expensive houses within the large cities could be more affordable
to people who could not afford them. After that law, BEAR STEARNS was 1st bank to start
packaging those forced loans into poor investments. Country Wide started it's bad work....
Congress started the bad ball rolling and Capitalism was only too happy to oblige.
I would expect some conservative increase, above expectations, maybe a penny more EPS.
If BAC were to post a big increase, US regulators would just like their chops to levy massive
fines for the supposed offenses.