Bank of America Corp (BAC)

[canestsal]

Nope. This is a big game of chicken. Financials, particularly weak ones like BofA, will continue to fall like ice off a roof until the next round of bailouts arrive.

DO NOT DOUBT FOR A SECOND, a coordinated bailout package is in the works for both Europe and America. The prospect of bank failures, like BofA failing, will force their hand.

If not, Europe will burn and the US will enter a prolonged period of GDP decline - and then they'll have to do another round of QE3 anyway.

I don't know how much further down the tubes BAC will go, they are in 'no-man's land' now. If they let it die, the bailout will get a lot more expensive - so they had better do it soon.