Bank Of America = 6.66
Can we all just fast forward to Tim Geithner making apocalyptic threats if he doesn't get TARP 2 to bail out Bank of America (which in turn will "help" Rick Perry) please?
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HAHAHAHAH!
I'm watching Final Destination 6... starring Bank of America.
Fuck Bank of America.
Blight on Americas problem now is everyone hates them, no one wants to sign over their kids futures to save the rats.
I've been saying BofA is going to zero for months now. Not that I want them to. When they do, it will be Armageddon. BofA is the red headed step child of the banking elite.
"Not that I want them to"
I want them to ....america needed to see this evil bankers induced horror show 3 years ago...so they'd know who to HANG
....oh, and "Fuck China" (testing the PRC response team...)
sorry to be contrarian to y'all, but i don't think there's any chance of BoA bailout. why? that would be another goldman-j.p. rival taken OUT! they'll let barclays, goldman, hsbc and jp strip the carcass...
They don't give a flying fuck what we want.
I joined the BAC short club today. Short BAC, Long XLF hedge. let's rock and roll!!!
You should tell IQ145.....he went long last week.
I love it when a plan comes together!
Couldn't happen to a nicer bunch of banksters. Maybe the FDIC can step in Friday afternoon?
Wish I had some money to pull out of Bof A, but all I have there are mortgages (CFC legacy loans).
A couple weeks ago I suggested to my 89 year old father that he pull his cash (250,000K+) out ofBAC and move it to secure credit union. He talked to my dumb shit older brother who told him I was over reacting (the same dumb shit brother who convinced my father to sell his physical gold which he bought on my recommendation back in 99 ($350/oz) but soon sold it after my dumb shit brother told him to do so (relic and all that) So, instead of having over $1,000,000 worth of physical gold he is now going to loose the rest of the inheretance. Older brothers suck!
Jesus, what a horrible story. And I'm sure you're older brother will not be able to help out your father when he is destitute.
Don't ever give a penny to your father or brother. Teach em some financial dicipline!
Knights..
I hear you on older brothers.. My father had a patriarchal sense that son #1 should be entitled to the business and opportunity. I had to go out into the private sector while the idiot that was born first poisoned my father's ear with the same dumb shit you speak of.
There is no common ground dealing with a self rightous pharisee.
Fuck em in the ear. Fuck em in the other ear.
http://www.youtube.com/watch?v=MmYBpgAC7Uw
at least Geithner is so short he won't have to get down on his knees to suck Pelosi's dick
http://www.youtube.com/watch?v=LSPirTVKm9U
Thank you for calling Bank of Amerika. this is..
http://www.youtube.com/watch?v=GRLwKw9up3s
Glad to see them take Merrill fucking Lynch down the toilet with them.
"Bank of Amerikkka, we'll help you out!"
"All we require is the souls of a thousand children, and 10 pints of virgin blood."
Speaking of Rick Perry ("my" governor), here's some dirt on the coke snorting, stripper-tipping, porn-investor. The consensus among gay guys in Austin is that Rick swings that way, too, but nobody has stood up to say they had carnal knowledge with "governor goodhair",... yet.
http://stuffedsuits.com/news/national-politics/721-fraud-rick-perry-is-political-herpes
http://www.politicususa.com/en/rick-perry-investment-porn
And it's gone!
pods
Awesome, 342/356 CDS - and those long Nov puts posted a few days ago are probably working as well.
Henny Penny Timmy: "The sky is falling, the sky is falling."
http://en.wikipedia.org/wiki/Henny_Penny
"Their" sky is indeed falling, so he is telling the truth to some extent. The problem is that the machinations they use to keep their sky up is pulling "ours" down. I look forward to the paper bugs wealth destruction coming to its final conclusion.
CNBC, Bloomberg, BofA, Wall Street = Henny Penny
Timmy, Bernanke and Obama = Foxy Loxy
my post this morning CCB and Bac
If you're '555', then I'm '666'!
If you're dumb, dumb, dumb buy our shit, shit, shit.
and you move it all about
"This monkey has gone to heaven..." -Pixies
BOA bank shares falling is a non-event.
Either the bank will be bailed out, and investors reimbursed.
Or it will go down with all investors on board.
It really boils down to WHO are the dominant shareholders.
If their last names don't start with 'R', then it could go down!
Take your anti-semetic race hate elsewhere!!!!!
ho ho ho
Sorry I don't take criticism well, but I am working on it.
How does a last name starting with R make me anti-anything?
Banksters know no nationality or crede, so why would I care where their heritage lies.
I am an equal opportunity child of the universe.
Take your narrow mind elsewhere baby.
it's called sarcasm,
www.iamthewitness.com
It's called I am an idiot........
Apologies Oh Worthy Knight.
no worries :)
Does anyone know which back Jom Rogers was short? BOA or JPM??
Funny not to see a collapse in the BAC preferred series L which with the common at 6.66 should be trading much lower than $793 (par value $1000). Equities markets fear a dilution of common stock, but not the elimination of preferred dividends. This is not as bad as 2008-2009, when BAC-L traded down to below $300 on BK fears.
If the preferred shares are dependent on a recapitalization which can't happen because the common shares are poop?
Patience, leafhopper.
Im not in equities, but if its anything like the BACORP bonds, its cause the prefs are nowhere near as liquid as the common which trades what, like 500mm ADV. Im sure anyone wanting to make a market in an illiquid share would have moved the b/a wide enough to off-load any particular risk there would be..
BWAHAHAHAHA Cunt Tree Wide Bitchez!
I guess BTFD doesn't apply to zombie banks?
Not unless you mean Burn the Fucking Dollars.
Burn the Fucker Down?
pods
Can anyone offer a reasonable explanation for why the Baltic Dry Index has been rocketing higher the past several sessions and again this morning?
in my limited knowledge/experience of these things i would have thought with the numerous slow-down recessionary signals that it would either be flatlining or continuing its decline.
I hear there's lots of boats needed for hastily-arranged shipments to Caracas.
Removal of Gaddhafi's gold is a big job
I've seen the lil man in the boat.
It's all a bit relative, no? http://www.bloomberg.com/apps/quote?ticker=BDIY:IND - If you look at relative to the past 3 months it looks to be rocketing... if you look at it relative to the last 3 or 5 years, not so much.
fair enough. but adjectives-aside, it would be cool to understand what's causing the recent upswing in BDI, no?
well... both of the gold suggestions above seem viable. Or we could be moving boatloads of mercenaries around the risk board.
2 x 0 = ?
"Mark of the beast", indeed.
Or "a beast of a mark" at <25% of "book value".
Tribulation Bitchez
They are already selling off some of the profitable parts of the business. Pretty soon, there will be nothing left but toxic sludge. Once they hit that point, they can be shut down and written off. I wonder how much sludge is being moved to BAC from JPM and GS and the boys?
Mortgage delinquencies are up. CNBC had the story "developing " then promptly burried it.
http://www.cnbc.com/id/44227763
How about GM below $22. I expect Rattner to guest host Squawk Box everyday this week to get it back above 25.
Im not sure if theres enough morons watching CNBS anymore to drive GM stock back up.
Ever since I switched to watching the Wiggles and reading ZH in the morning my mind is much clearer.
+1, SpongeBob for breakfast. ZH for Lunch, and South Park for Dinner..
The whole BAC take-down, despite having well-known fundamental reasons behind it, seems somewhat fake, as if BAC were being served up as the fall guy for some inordinate government action.
2009 BOA prophacy: http://www.youtube.com/watch?v=trLcH868ld4
it's a reasonable theory for sure, but what i can't figure out is that if true, who's gonna take over all those retail branches all across Americo? somebody's got keep them up and running, else there goes the neighborhoods (jobs, commercial R/E, etc).
Chase....or Wells Fargo?
one would think the Morgue, but then all over the place, i see brand new Chase branches opening within spitting distance of a BdOA branch. one thing Dimon D is not is stupid. as for Wells, maybe this is what the meeting with 0 and Uncle Buff is about?
http://1.bp.blogspot.com/_TgGZ80B5DXU/TDPaas95JqI/AAAAAAAAAJM/HwGjD4CTf4...
rock on
It seems to me that Nationalization.
maybe the NYT report of federal pressure on NY AG Schneiderman to get with the program and do the right thing is causing folks to gag, just a little. The federal person said something to effect of Wall Street being NY's Main Street (true enough), so be a mensch was the message. But on main street in Democratic ex-Rep. Weiner's district, the Republican opponent is turning off the mike for commenters berating Obama, otherwise it would take all day and the next ones need their turn, too. Oh, and NYT actually printed these comments (link here: http://www.nytimes.com/2011/08/22/nyregion/for-weiner-seat-gop-hopes-for...):
<quote>But it was there that Dale Weiss, a 64-year-old Democrat, approached the Republican running for Congress in a special election and, without provocation, blasted the president for failing to tame runaway federal spending. “We need to cut Medicaid,” she declared, “but he won’t do that.” She shook her head in disgust. “He is a moron.”
After nodding approvingly for a time, the Republican candidate, Bob Turner, signaled for an assistant to cut off Ms. Weiss. Frustration with Mr. Obama is so widespread, he explained later, that he tries to limit such rants to about 30 seconds, or else they will consume most of his day.“It’s endemic in the district,” Mr. Turner said. “You can’t stop them once they get started.”<quote>
1 Year CDS - 452
But But Tim told us the US treasury made Billons of Tarp, and GM paid back all the money, Chrysler did as well early, so if he can enough TARP the profits will pay off the deficiet. Man is a genius.
Don't worry, I seen Cramer on CNBS sayin' this morning taht the stock is "Too Low" to sell.
Ride it out!
His advice, NOT MINE.
Cant sell it now! Why....its TOO LOW!!
Its a Cramer trademark, the no stop loss.
World Bank says it will re-engage with Libya as soon as it can be helpful in the country's recovery - ReutersWorld Bank says it will re- penetrate Libya as soon as it can be helpful in our (US) recovery.
I think that fixes it for ya Reuters
Pentagon: Any post-Gadhafi mission in Libya not expected to involve US boots on the ground - Reuters
Pantygone: We won't cum in your country. -DappersCliff jumping never felt so safe
BAC @ 6.66 = Poetic Justice.
That $2 million dollar BAC/$4 November put investment you reported on recently is looking pretty good.
I'm happy to say I've been personally responsible for the withdrawal of over 50k from b of a in the last month...advising friends to do their part to hasten the demise by closing accounts.
Convinced my wife to get out over $20K last month.
If one goes..they all go.
When one goes they all go. Either the banking system collapses or our monetary system collapses. Same thing you say? More or less, yes... same thing.
THe banks are Mountain climbers with ropes attached to the waste(sic).
It doesn't matter if it's the 'Small' guy that fell, the momentum will take them all.
http://www.youtube.com/watch?v=DSAeyAV85UM
who is that host? I thought they went from Bob Barker to the kind of fat guy with glasses who was completely not funny but somehow managed to have a couple sit coms built around him.
In 2008, they convinced people while it stunk to high heaven to bail out these crook bastard bankers, YOU will also benefit greatly from it...dont worry go along with the program we assure you while it may suck right now, youll soon be lovin it.
The scam is over, now everyone just hates the banks far more while the people are far worse off. BIG trouble coming soon if they again say 'We need you to sacrifice greatly in order to save the banks'.