Here we go again.
The Banks and brokerages know it, Trading volumes down 75% from last year.
to bad Merrill is only worth about $5 per share and the buyer would need to spend 2 billion just to separate, the last six years of internal system consolidations BAC did. Thus, only the name can be sold the systems can never be separated without a huge cost.
Why should any investor trade buy or sell a stock? When the market goes in one direction for eight years? There is no way that Bank of America can make money on Zero Rates and Zero Trading. Going to $10.00
on New Fees, and lack of commission revenues due to lowest trading volumes in 30 years.
The brokerage arm is hemorrhaging a huge trading revenue losses...
to get the market back to normal volumes: Russell 2K 1650, S&P 1,250, DJ 12,500 that's just to get the market to normal trading levels without federal reserve manipulation.
The answer is no.
Clearly today's news is horrible for Bank of America since they cant make money on Zero rate margins. In fact they lose money... Bank of America is going to take a huge hit $7.00 coming.
Bank of America needs to get out of banking before the market crashes and the owners of assets ask the custodians for the 125 trillion... I doubt the $2 billion FDIC fund can secure $125 Trillion...
Hal will breakout to $60 next week and be about $80 when the BHI deal closes in September. As the US Dollar and U.S. Treasury Crash on U.S. Debt of $19 Trillion with $4.5 Trillion off the books at the Federal Reserve in the Governments ENRON type off the books debt barge scam. One Big Difference Ken Lay died in prison and the Government well they just take pay raises.
Then who is holding the $70 Trillion Bag??
They are cooking the books to hit a estimate.
Knight has a 99% larger book then VIRT! how this got priced so high is basically fraud in my mind.
It will e the next largest scandal in the U.S.. I thinking at this point the Federal Reserve is actually scared to death. They clearly have surpassed their Charter and Mandate and are now treading in unknown waters. They may indeed be the cause single handley of this net crash coming.
This is going back to 7 on new fees and commission losses on zero volume
looking for anything a buy a sell something? watching the investment cash get washed away by 10 Year CD's locking up the only liquidity you know your customers have. Future does not bode well for these FC's starving trying to live off a commission and meet their quota..
will e the biggest shocker to the system. These financial services firms are not make any money at all on these trading volumes. Maybe some of the lowest commission and revenues we have seen in 30 years coming.