Replies to post #9309 on Bank of America Corp (BAC)

[brokedoc]

lol
this is looking pretty tasty,if ya got the nads!!

[YazM]

As ironic as it is, I've been saying BAC could be hiding behind BK for several months and the shares are being slowly dumped to not scare investors (the risk takers at this point). My bubble thought could have some potential at this point in time with current levels and the easy ability to drop under $5.

Like I've always stated, nothing is 'to big to fail' no matter how many people rely on it. It may be hard to hear for some ears but it is the truth.

[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.

[TradeNJ]

Hey i am just pretty ignorant, but it seems like BAC had 2.3 trillion in assets and 1.9 trillion in liabilities at the end of Q3 2011. So those assets would have to be written down by 400 billion for chapter 11. So how is that gonna work out? they are just suddenly going to write it all down and go bk? come on now.
So lets say they have been cooking their books....
So they have been doing their M2M accounting based on phantom numbers and now they have to write down their loan portfolio (955 billion) down by 50% to do that? Ya think they will just do that overnight? come on now.
As it stands now there is 200+ billion of common share holder equity for a company with a market cap of barely 50 billion. some discount? So, if it does get to chapter 11 territory (50% write down on all loans) that means we are in huge depression, people are rioting in the streets, and at that point all I care about is the 16 in the clip not the 16 in the bank. Happy trading.

[altruism]

I wondered about that... everyone keeps saying there seems to be no real reason for the stock price to keep declining, and yet there is this small exodus daily.... Brian been selling everything including his personal exec sink... laying off 30,000 people....

nah.... Buffet's here everything will be alright.... or will it?