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I thought BOA was DOA?
futures went down a fraction of a percent momentarily...then rebounded.
a holes on Bloomberg Radio, they always talk estimates when there is a meet or beat but just now reported that BofA had its first profitable quarter in three neglecting to mention the miss
stock will probably go up....ha ha its crazy...
BOA needs to hire JPM's accountants.
Goldilocks... King Dollar... Free Market Capitalism... Nothing seems to work Larry.
Brian Moynihan's lips are moving so he must be lying
"Paging Dr. FASB, the efficacy of the drug is failing and the patient is going into EPS shock."
Its all GOOD news.....Only the raping skillsof Merrill Lynch Pierce Smith traders keep this POS alive....
Bank of Scamerica, why don't You just default. The world would be a bit better place if u were gone.
liar, liar, pants on fire.....
Whomever is doing credit analysis and reducing the provisions for credit loss is an idiot. Probable changes in interest rates alone will wipe out those slightly better than marginal CRE loans who've endured thus far. That ticking you hear is the time debt bomb.
48 page slide deck to explain your earnings - the length of the letter from the CEO in the annual report has been found to correlate with the health of the company - if it gets longer things are bad. I would say this along with the CFO being "promoted" to vice chairman after he was not consulted/aware of the fact that BofA would not be able to raise their dividend per their master, the federal government.
I think that BofA would like to think of theselves as being able to cross sell all their different products as a value add for their customer - I think they are trying to get more people on the hook before they break-up this train wreck into individual parts.
If you look at Moynihan prior to and after his ascension to CEO, he does not look healthy and that is related to what the captain is hearing about the condition of his ship.
i wonder how Ken Lewis is doing .......hopefully not well
all time lows on CC delinquent payments ......i still have a hard time getting my head around that people are paying the CC and not the mortgage......when TSHTF there is no way people are going to pay those CC bills
Ah look they fiddled the figures, means they are a buy and the market likes con games
One of the biggest banks in America doesn't meet expectations..........and the market is up. Naaaah, there is no intervention going on.
People pay the CC's for two main reasons:
1. They can re-access the credit line later on and don't want to be cut off.
2. BAC's not going to foreclose for a couple years if you stop making payments, so who cares?
The convenience of denial; U.S. citizens continue
depositing dollars into BAC, thus supporting TBTF
and, thank the devil, U.S. empire.
If anyone is still reading this post, I've written a piece over at my blog on this very topic whilst including a link back here. I'm a newbie in the whole game and a new writer that's attempting to put down in words with humor what the hell is going on in a manner and language "regular folks" can understand. I would appreciate any reads on it and my blog in general - not trying to promote, just looking for opinions. Thanks, EOTW
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