• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Bank Of America: Major Miss On Both Top And Bottom Line

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Fri, 01/21/2011 - 08:11 | 892760 ThisIsBob
ThisIsBob's picture

Now, Julian, now!

Fri, 01/21/2011 - 08:18 | 892768 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

The evil beast is wounded, deliver the fatal blow Julian before it reeks anymore havok on the poor sheeple!

Fri, 01/21/2011 - 08:19 | 892772 whatsinaname
whatsinaname's picture

Stock should go up on such good news ? should it not..

Fri, 01/21/2011 - 11:10 | 893142 Babalooee
Babalooee's picture

Wow, forget Julian. I guess closing my account last month worked!

Fri, 01/21/2011 - 11:54 | 893336 Sudden Debt
Sudden Debt's picture



Fri, 01/21/2011 - 08:27 | 892779 HelluvaEngineer
HelluvaEngineer's picture

Right.  He'll get right on this after he gets out of the hot tub full of hookers.

You'll never see that info.

Fri, 01/21/2011 - 08:41 | 892796 hedgeless_horseman
hedgeless_horseman's picture

Here she is, Miss (Bank) America!

Fri, 01/21/2011 - 08:16 | 892765 TooBearish
TooBearish's picture

These mudder fukkers are running out of rabbits to pull out they ass to make the numbers- Brian you're outta there -dust off that resume I hear Raymond James looking for Muni bond salesmen....

Fri, 01/21/2011 - 08:29 | 892781 HelluvaEngineer
HelluvaEngineer's picture

Pretty bad when you have a license to lie and you still can't hit the numbers.  I've thought all along that QE2 is just about keeping the lights on at the banks.  I think the stock market performance has more to do with the Tepper induced house of cards.

Fri, 01/21/2011 - 08:16 | 892766 satansanus
satansanus's picture

Can you put the "Bash Muni" spin into this story? Also Im not feeling any "buy silver" pump in this one

Fri, 01/21/2011 - 08:17 | 892767 swmnguy
swmnguy's picture


Fri, 01/21/2011 - 12:44 | 893490 DavidC
DavidC's picture

Nah, STFR...

Sell The Fecking Rally (or Ramps, take your pick).


Fri, 01/21/2011 - 08:19 | 892770 bingaling
bingaling's picture

Q4 non-performing loans, leases and foreclosed properties USD 32.66bln

That is a lot of losses for a bank with permission to cook the books

Fri, 01/21/2011 - 08:23 | 892775 johnnymustardseed
johnnymustardseed's picture

They are only alive because of FASB rule changes and free money from the FED.

Fri, 01/21/2011 - 08:24 | 892777 hugovanderbubble
hugovanderbubble's picture

buy BAC now¡¡its cheap¡¡¡¡

Fri, 01/21/2011 - 08:26 | 892778 Robslob
Robslob's picture

Aren't we all?

Fri, 01/21/2011 - 08:27 | 892780 Bigger Dickus
Bigger Dickus's picture

Dick Bove is on suicide watch.

Fri, 01/21/2011 - 08:29 | 892782 satansanus
satansanus's picture

my hookers are big bucks. I need some hot trades, not the same ole snaps on a loop

maybe feb opexwill be the buy on bac again

Fri, 01/21/2011 - 08:29 | 892783 satansanus
satansanus's picture

my hookers are big bucks. I need some hot trades, not the same ole snaps on a loop

maybe feb opexwill be the buy on bac again

Fri, 01/21/2011 - 08:35 | 892787 Tic tock
Tic tock's picture

off topic, but european banks are busting a gut upwards - any idea why?

Fri, 01/21/2011 - 14:06 | 893855 TemporalFlashback
TemporalFlashback's picture
  • GS positive report on spanish banks
  • Record German consumer confidence
  • 3Y-high French consumer confidence
  • Positive expectations for Santandar (Spain)
  • Lots of Hopium
Fri, 01/21/2011 - 08:38 | 892792 Bay of Pigs
Bay of Pigs's picture

Where's Harry Wanger? This is bullish right? 

Fri, 01/21/2011 - 08:40 | 892794 max2205
max2205's picture

These idiots are free to. Cook the numbers and they can't even do that right. -20% today

Fri, 01/21/2011 - 08:42 | 892797 Bigger Dickus
Bigger Dickus's picture

The top in this farce of a market is in. Double top formed. First shoulder: top of .com bubble. Head: 2007. Second shoulder: this week.


Dow fair value: 5000

Fri, 01/21/2011 - 08:43 | 892800 Quinvarius
Quinvarius's picture

It appears JPM's lie was too big of a whopper this quarter.

Fri, 01/21/2011 - 08:48 | 892803 SashaBelov
SashaBelov's picture

Ok, I'd rather see FNM not alowing them to settle about repurchase claims and maybe there will be some revision of this deal, but anyhow they look crippled, specialy when we think of all pending foreclosures and those mortgages that right now aren't under water but will sink  in 2011.


But guess what! Stock price is already climing over prior settle. WTF is wrong with market? Are Dick Bove and Jim Cramer lifting it up???

Fri, 01/21/2011 - 08:48 | 892804 Bigger Dickus
Bigger Dickus's picture

Why isn`t this piece of shit down in pre market? Fuck you assholes. Does anyone have the address for the pomo girl? You know, the one featured in that article about "you can`t be a known buyer and get good prices...".



Fri, 01/21/2011 - 09:06 | 892830 Hollow_Point
Hollow_Point's picture

Should be down to at least high 12's and maybe further to 11.

Fri, 01/21/2011 - 08:51 | 892809 slaughterer
slaughterer's picture

"Q4 provision for credit losses USD 5.13bln."

Not nearly enough Brian. 

Fri, 01/21/2011 - 08:53 | 892812 slaughterer
slaughterer's picture

Julian, please let it rip today.  Or were you in a jacuzzi with NYU pomo girl last night? 

Fri, 01/21/2011 - 09:01 | 892821 Hollow_Point
Hollow_Point's picture

He's got nothin'. Corrupted by the all the attention.

Fri, 01/21/2011 - 09:25 | 892848 Seasmoke
Seasmoke's picture

he may be waiting for the perfect time for the knockout punch.......now he could throw a 1-2 punch, but it may be too soon

Fri, 01/21/2011 - 09:17 | 892843 ak_khanna
ak_khanna's picture

The speculator­s who are in control of the markets are like termites that require wood to eat and thrive on. Here the wood is the savings and the margin money used for trading the markets. The simple way to destroy the speculator­s is to keep your money out of their reach.

The exchanges have been reduced to gambling dens whereby the more powerful traders with deep pockets move the markets to maximize their own profits at the expense of the remaining not so powerful players. The big boys have enormous money power to move the markets in the direction which results in maximum profits for themselves­. They effectivel­y use the media to lure the other players in the market to a position where they would incur maximum loss. It is similar to rounding up maximum sheep before shutting the doors of the slaughter house. If a trader does end up making money it is more a factor of luck rather than talent.

The small investors have realised that the markets are rigged in favour of the banksters and that is the precise reason why there has been a withdrawal of nearly USD 100 billion over more than last 30 weeks from equity mutual funds. Hence the big speculator­s are running out of people whom they can cheat or rob through the exchanges resulting in fall of trading revenues and profits for them.


Fri, 01/21/2011 - 09:49 | 892884 cramers_tears
cramers_tears's picture

BAC is an income stock dammit!  You're overlooking their 1¢ quarterly dividends.  Buy Buy Buy!  The Bernank will always protect it's favorite son!  "Oh Brian... you got a tummy ache?  Here's some POMO play-money... You feel better now?"

Why everyone should know The Bernank is taking this DJIA to 20K, Alice!!!  Buy Buy Buy!  Watch BAC top 15 by mid-week.


Fri, 01/21/2011 - 10:44 | 893064 Miramanee
Miramanee's picture

NOT an issue. The Heads of State (also known as the CEO's of Wall Street) win no matter what. The beauty of swaps:


Fri, 01/21/2011 - 11:07 | 893130 lamont cranston
lamont cranston's picture

Where is BAC headed? I'd like to know the answer to these questions - How much common do C.D Spangler, Hugh McColl Jr & Tom Storrs (yes, he's still alive) still own? How much have they sold off in the last 3-4 months? Follow da $$$$$.....

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