Looking @ PPS today and similar PPS Spring 09 in terms of overall health of BAC; there is no comparison. BAC is in far better shape than it was in Spring 2009. This PPS drop is strictly a fear trade based on European crisis and the belief the bad mortgages held by BAC somehow will overwhelm their balance sheet. BAC is very well capitalized. I don't think their bad mortgages are as bad as everyone thinks. As a matter of fact they may be selling that arm of their business soon. BAC is a money making machine. The trading fears are way overblown. This is even a better opportunity today @ $6 dollars a share than when it traded for 3 dollars in 2009.
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