Bank of America (BAC)

mickey94558 · Newbie Joined: 30 Dec 2008 Posts: 2

Anyone know why BoA is continuing to drop? I haven't seen any news relating to it. Sad

rffrydr · Posted: Fri Apr 20, 2012 2:58 pm Post subject:

....And Sad Sack called the bottom in mortgage market.

Break-up; break-up; break-up!
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Today is the Tomorrow you worried about Yesterday!

HenryTo · Posted: Thu Apr 19, 2012 4:20 pm Post subject:

Morningstar on BAC's 1Q earnings.

rffrydr · Posted: Fri Jan 20, 2012 10:15 pm Post subject:

HenryTo · Posted: Thu Jan 19, 2012 3:01 pm Post subject:

Morningstar on BAC's 4Q earnings.

http://quicktake.morningstar.com/Stocknet/533487/bank-of-america-remains-defensive-in-4q.aspx?symbol=BAC

rffrydr · Posted: Thu Jan 19, 2012 8:54 am Post subject:

“The biggest shock in the quarter was, nobody improves their Tier 1 common ratio by 121 points in 90 days,” said Thomas Brown, CEO of Second Curve Capital LLC and a Bloomberg contributing editor, in an interview with Betty Liu on Bloomberg Television’s “In the Loop.” “It’s going to survive and its capital ratios are a lot stronger today than we all thought yesterday.” Brown has owned Bank of America warrants and shares.

Too bad Razz

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Today is the Tomorrow you worried about Yesterday!

rffrydr · Posted: Tue Jan 03, 2012 2:52 pm Post subject:

But shareholders....maybe. This is just more in the scorched-earth policy BAC adopted last quarter. It's a backhanded pushback to the Regulators and Politicians; and its the one thing banks are always good at: backhandedness.

If were lucky they'll xxx off enough people that breakup will be greeted with open arms. I know I will Wink

Good day to own banks, hunh? How 'bout that Citi. And I wouldn't call it short-covering either.
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Today is the Tomorrow you worried about Yesterday!

HenryTo · Posted: Mon Jan 02, 2012 10:54 pm Post subject:

BAC not winning any new customers here, as it abruptly cuts small business credit lines.

http://www.latimes.com/business/la-fi-credit-cutoff-20120103,0,3538902.story?track=rss&utm_source=dlvr.it&utm_medium=twitter&dlvrit=104530

rffrydr · Posted: Wed Nov 30, 2011 7:07 am Post subject:

$30B....that's with a "B"...last quarter.

When shareholders went to the lawsuit last spring that was it as far as an "investment." One giant litigation dummy, betwixt and between. Merrill's been crucial in the corp refi boom of last few years, but now at payroll above profits it's a drag--not a hole. The "black hole" ironically might be zero fed funds....indefinitely.

I continue to believe the "utility model" could work....if it just be allowed to work. Citi is doing a far better job here, to the extent it's allowed to. But the "save the village so we can rape the village" model is not working. Betrayed both from without and from within. The Market, in a rage of self-righteousness, wants to cast the world's eyes on to this sin and will splay BAC out for all to see. BAC equity holders should've been first to the OWS barricades. But as we well know by now, pensions, mutual funds and insurers have no face. The breakdown of BAC is the breakdown of the stock market....and that is most certainly broken.

Strangely, creditors have made out just fine here in BAC. Indeed BAC is symptomatic of the markets in general. With few exceptions companies are being run by and for debtholders. It'll be interesting whether CoCo's and other intrusions/inversions of the capital structure will erode this last bastion of private capital.
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Today is the Tomorrow you worried about Yesterday!

Ven · Senior Poster Joined: 30 Dec 2009 Posts: 115

Well, Countrywide and MER are unlimited black holes that would have eventually brought down BAC -- although later on down the line.

But you're right -- the NY boys will sacrifice the outsider, to save themselves.

Bear Stearns, all over again.

rffrydr · Posted: Tue Nov 29, 2011 5:21 pm Post subject:

If it does it won't be because of earnings....which is to say, the stock.
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Today is the Tomorrow you worried about Yesterday!

Ven · Senior Poster Joined: 30 Dec 2009 Posts: 115

I did post earlier this year that I thought BAC would make it through to the next cycle, but it looks like that call was off.

Going to need a bailout before the end of the year, I'm afraid.

rffrydr · Posted: Tue Nov 29, 2011 7:14 am Post subject:

Burn this one. It would make a nice coda to this Best of All Possible Depressions we're goin' through. (Don't hear "Great Recession" so much anymore do we?)
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Today is the Tomorrow you worried about Yesterday!

HenryTo · Posted: Tue Nov 29, 2011 3:20 am Post subject:

Recent banking survey shows BAC's customers to be the least satisfied:

http://www.fool.com/investing/general/2011/11/25/will-2012-be-bank-transfer-year.aspx

HenryTo · Posted: Wed Nov 23, 2011 8:49 pm Post subject:

CDS on BAC surges to record--worth tracking despite the opaqueness of the CDS "market":

http://www.bloomberg.com/news/2011-11-23/u-s-company-credit-risk-gauge-rises-to-seven-week-high-on-europe-crisis.html

rffrydr · Posted: Fri Nov 04, 2011 7:25 am Post subject:

$3B Rights issue. Buffett bought them nothing but dilution. Good for bond and (not?) preferreds though--as seems to be true of everything but miners and tech.
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Today is the Tomorrow you worried about Yesterday!