Bank of America

Tyler Durden's picture

Bank Of America's Retort To Andrew Cuomo





Some serious fireworks go off as Clearly Gottlieb clutches at straws to make Lewis, from merely Patron Saint of Taxpayer Funded, No MAC Clause Invoking Acquisitions of Bankrupt Companies, into Saint Ken, Martyr of The Dispossed Investor.

 
Tyler Durden's picture

Andrew Cuomo Has Had Enough With Bank Of America's Cowardice, Plans On Filing Charges





"We are at this stage in our investigation in which we are making charging decisions with respect to Bank of America and its executives."

How poetic would it be if Madoff and Ken share a jailcell?

 
Tyler Durden's picture

SEC Charging Bank Of America With Making False And Misleading Statements





Update: All is now taken care of - BAC settles with the SEC for $33 million, less than an hour after the suit becomes public. And... it's gone. The market ramp can now continue with commercial interruptions from the Federal Reserve of the United States.

Apparently BAC screwed the pooch with misrepresenting the Merrill acquisition. Shocker. Will the SEC next pursue Hank Paulson and Ben Bernanke for enforcing this material misrepresentation? Mozillo's legal bill is already being footed by taxpayers, can we at least get a twoofer special here please?

 
Tyler Durden's picture

Get Your Overpriced First Mortgage Piece Right Here, Or Bank Of America Loves Overpaying For Rent





The glory of maintaining your own SPARC-core server headquarters at 65 Montgomery Street (or at least a first lien therein) can be yours for a mere $65 million, compliments of the Houdiniesque commercial real estate folken at Citi Commercial Mortgage Finance.The full mini prospectus can be found here for your enlightenment.

 
drhousingbubble's picture

Option ARMs: The Most Misleading Mortgage Product Ever Devised. Worst Than Subprime? You Bet. Looking at Wells Fargo, JP Morgan, and Bank of America.





If you had to create a mortgage that was more toxic and more destructive than a subprime loan, you would have a very hard time creating that product. Yet leave it to creative finance to spawn a devilish product with the unique name of option ARMs.

 
Tyler Durden's picture

Bank Of America Amazed By Goldman's "Unmatched Risk-Taking/Risk-Management Skills"





The lately abnormally notorious Goldman Sachs received a little pat on the back today compliments of Bank Of America and its analyst Guy Moszkowski, who in a report published this morning announced his expectation of an "unexpected" Q2 surprise (quick, someone find the next big counterparty that Goldman shorted and also has several tens of billions in collateral exposure with the 85 Broad oracles) and also anticipates forecasts to rise. Maybe now that Goldman's fate allegedly is in the hands of a few good hackers, Guy may want to redo his hypothesis. But I digress.

 
Tyler Durden's picture

Bank Of America To Pay Mozilo's Insider Trading Legal Fees





Just when people were wondering why Bank Of Countrywide Lynch wasn't paying back the TARP, (well, that, and a several hundred billion in toxic assets) Reuters is reporting that the legal fees of Agent Orange, who was recently charged by the SEC with fraud and insider trading, will be paid for by TARP-for-life member BofA.

 
Tyler Durden's picture

JPM And Bank Of America Pay Themselves Back In Yet Another REIT Offering





In the most recent example of taking from one pocket to pay another, Merrill and JPM underwrote 8.75 million shares at $20/share for Kilroy Realty Corp, a REIT that owns, operates, develops, and acquires Class-A suburban office and industrial real estate in bankrupt southern California.

 
Tyler Durden's picture

JPM And Bank Of America Pay Themselves Back In Yet Another REIT Offering





In the most recent example of taking from one pocket to pay another, Merrill and JPM underwrote 8.75 million shares at $20/share for Kilroy Realty Corp, a REIT that owns, operates, develops, and acquires Class-A suburban office and industrial real estate in bankrupt southern California.

 
Tyler Durden's picture

JPM And Bank Of America Pay Themselves Back In Yet Another REIT Offering





In the most recent example of taking from one pocket to pay another, Merrill and JPM underwrote 8.75 million shares at $20/share for Kilroy Realty Corp, a REIT that owns, operates, develops, and acquires Class-A suburban office and industrial real estate in bankrupt southern California.

 
Tyler Durden's picture

Bank Of America Raising $8 Billion





800 million shares priced at $10 a pop. Very timely upgrade by Goldman Sachs yesterday.

 
Tyler Durden's picture

REIT Analyst Leaves Bank Of America In Midst Of Most Lucrative Period For Group





Steve Sakwa, whose work product Zero Hedge has not spared its praise for in the past, has left the building. The "top rated" REIT analyst, who gained prominence in the past 2 months for such great work as an upgrade of virtually all companies he covers, has departed for greener, although unknown, pastures. It is quite odd that Sakwa would leave the bank at a time when his group was generating more revenue than virtually any analyst/trading group on Wall Street.

 
Tyler Durden's picture

FBR: Bank Of America Needs $70 Billion





Paul Miller has released a report that none of the programs trading the market currently have obviously read. Regardless, in keeping with hopes that at some point cheerleading and rationality prevail, it is prudent to at least know what will happen as you are purchasing BAC stock today.

 
Tyler Durden's picture

Bank Of America Needs $36.6 Billion More Capital According to Oppenheimer





A research piece from Oppenheimer states that BofA needs to raise over $36 billion in equity to be in line with peers. Analyst Chris Kotowski says that due to inability to access the equity capital markets, BofA will be forced to follow in Citi's footsteps and convert preferred shares to common stock.

 
Tyler Durden's picture

Bank Of America Downgraded To A From A+, Outlook Negative





From S&P downgrade just issued:

 
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