BofA

So, is Merrill Lynch going to be BofA's Golden West??

 

Beats me. All this shit's making me nervous beings ML handles my port folio.

 

You should be OK as the SIPC guarantees up to $500,000 I believe. If you have more than that, good for you.

 

$5.69, just a penny off the low, in mid-day training.

Unfucking real.

Run, do not walk away from these stocks until such time as the Govt buys the toxic assets.

 

say it aint so

 

It ain't so.

 

A lady down the street works at BoA.

I told her after she gets canned, I have something she can work on...

 

Bank of New York stock is worth more than BofA.

oll

 

Is Bank of America literally destined to become THE Bank of America?

NEW YORK (CNNMoney.com) -- Is Bank of America literally destined to become THE Bank of America?

The Charlotte-based banking giant has already received $45 billion in taxpayer money. And the scary thing is that some think it may need even more to survive....possibly even an outright takeover by the government.

Shares tumbled nearly 18% early Thursday morning before bouncing back sharply later in the day and clawing into positive territory. Shares finished up 4%

But at one point Thursday, the stock was trading below $4 a share, its lowest point in more than 20 years.

That followed an 11% plunge Wednesday amid renewed speculation of nationalization.

BofA (BAC, Fortune 500) is struggling to digest the acquisitions of Merrill Lynch and mortgage lender Countrywide, and nothing it has done lately has given investors reason to be hopeful.

On Wednesday, BofA said that to cut costs it would sell three of its corporate jets and a helicopter it inherited in the Merrill deal.

Talkback: Should the government nationalize BofA?
Last week, the bank unveiled what it called its Lending and Investing Initiative, essentially a promise to track and report how it is using money from the government's Troubled Asset Relief Program, or TARP.

But those moves have been rightfully ignored by investors as little more than attempts to boost the bank's image.

BofA is hardly the only bank that has gotten whacked this week. Also getting hit were Citigroup (C, Fortune 500), JPMorgan Chase (JPM, Fortune 500) and Wells Fargo (WFC, Fortune 500).

That's largely due to concerns that the Obama administration might not actually unveil a plan for a so-called "aggregator bank" to buy up the spoiled assets sitting on many banks' balance sheets.

But BofA's stock has been the worst performer by far in recent days. Simply put, the continued weakness in BofA's shares is a sign that something drastic has to be done...stat.

Andrew Marquardt, an analyst with Fox-Pitt Kelton Cochran Caronia Waller, wrote in a research note Thursday morning that there needs to be "new leadership with a clear and consistent strategic plan to manage through the existing tough period."

"Inconsistency and poor vision at the helm has added to lack of conviction and confidence by investors and analysts," he added.

 

BofA is in much better shape than Citi. Why no talk of nationalizing Citi? This is an example of rumor really hurting a company.