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Bank Of America CDS Hits Escape Velocity

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Mon, 08/22/2011 - 13:57 | 1586744 LawsofPhysics
LawsofPhysics's picture

There it is.  ZH knew long ago that the chairsatan would get a sacrafice and BAC would be the first to go to the alter.

Mon, 08/22/2011 - 14:02 | 1586774 slaughterer
slaughterer's picture

Once they pump this CDS past 400 bp, I would expect a stock halt and an "announcement."  At least, I hope so...

Mon, 08/22/2011 - 14:09 | 1586818 TheTmfreak
TheTmfreak's picture

PHEW! Hold onto ya butts.

Mon, 08/22/2011 - 14:22 | 1586887 ratso
ratso's picture

"Buffeting, buffeting... I don't have control..  do you read me?

Mon, 08/22/2011 - 14:25 | 1586920 eureka
eureka's picture

It was fun while it lasted. Goodbye Bofa. Good Wall Street. Goodbye U.S. Empire. C U N Heavn'. Over & Out.

Mon, 08/22/2011 - 14:43 | 1587021 Thomas Jefferson
Thomas Jefferson's picture

Goodbye Charlotte North Carolina.  Better plant the cotton fields early next year.

Mon, 08/22/2011 - 15:09 | 1587132 j0nx
j0nx's picture

Goodbye my credit card debt because no way I'm paying 100c on the dollar for that shit when they die. I'll offer 15c on the dollar to whoever absorbs their rotting corpse as a one time only take it or leave it mofos deal.

Tue, 08/23/2011 - 04:21 | 1589370 fx
fx's picture

so you demand that someone else shall pay YOUR debt that you voluntarily incurred for YOUR own spending purpose? You are no better than the evil bankers that you blame. likely you are much worse. A man who doesn't honor his debt is a coward, a cheater and a parasite and will sooner or later get what he deserves. what goes around comes around.

Tue, 08/23/2011 - 07:14 | 1589467 j0nx
j0nx's picture

Are you retarded or something? That's my entire point. NOBODY else is paying that debt if BAC goes under. The debt will get sold to some vulture who will try to collect 100c on the dollar for debt they paid 7c for. Put down the beer, turn off Jersey Shore and start using your brain.

Mon, 08/22/2011 - 18:56 | 1588071 New_Meat
New_Meat's picture

Charlotte had a practice riot on Memorial Day.  Just sayin'

Mon, 08/22/2011 - 20:03 | 1588304 TheTmfreak
TheTmfreak's picture

Somebody brought this to my attention recently and I completely forgot about this fact. My sister just moved back there (from San Fran.. hah) and well now... damn, if BAC goes down... yeah no shit good by charlotte.

 

 

Mon, 08/22/2011 - 22:14 | 1588769 sunnydays
sunnydays's picture

A song was dedicated to Bank of America.  Seems like it will be used soon.

http://sherriequestioningall.blogspot.com/2011/08/for-bank-of-america-th...

 

Mon, 08/22/2011 - 14:34 | 1586957 In Fed We Trust
In Fed We Trust's picture

There will be no bailout for BofA.

Dint u remember, Merril dumped all it's toxic shit on BofA for a premium.

BofA by design is a garbage disposal.

They will disappear in the next round,

Mon, 08/22/2011 - 16:32 | 1587486 ZeroPower
ZeroPower's picture

Never heard of a stock halt due to CDS premia. 

Mon, 08/22/2011 - 19:23 | 1588171 IQ 145
IQ 145's picture

Canadian Womens iz Good! Eh? It's an internet blog. we got all kind of things you never saw before; manipulated this and consipiracied that and alien flying saucers on the white house lawn; come on loosen up a little. You think you got problems, I went long BAC at $7.37 to prove to these ignorant bitchaez that that's how you make money; by buying dips. Not too wonderful, so far. But, keep your pecker up, as our english coursins say, tomorrow's another day.

Mon, 08/22/2011 - 19:52 | 1588262 Stax Edwards
Stax Edwards's picture

I will take to the streets hopefully among the rest of the sleepy americans if Tarp 2 (or are we at three now, a couple deep already) is announced.  This IMO will be the straw that broke the camels back.  We simply cannot stand for this bullshit any longer.  We are bringing the future of our country to collapse to support the elite who caused this mess.  Long pitchforks and ready to take our country back.  Whose gonna join me?

 

I am particularly appalled that FNM and FRE are now preparing to sell foreclosed rez re to the investment banks and REIT's at pennies on the dollar as opposed to allowing real price discovery so that the responsible in this country can build their own enterprises buy buying the stuff and providing shelter for our neighbors in the time of need.  All to support rental prices for the haves at the expense of the have nots.  All to hold rents at the manipulated market rates holding downt the entrepreneurs among us.  I am getting sick watching the crony capitalism unfold.  Absolutely sickening.

Mon, 08/22/2011 - 20:35 | 1588372 New_Meat
New_Meat's picture

"Canadian Womens iz Good! Eh?"

N'est ce pas?

Your BAC position? sux 2 b u--punch out.  Dang, u not b doin' up 2 ur handle. 

- Ned

Mon, 08/22/2011 - 17:12 | 1587659 NewThor
NewThor's picture

What about the Bank of America murals that predicted QE 20 years ago?

It's all baked in the cake.

 

 

Mon, 08/22/2011 - 14:03 | 1586783 citta vritti
citta vritti's picture

but, but, but, they're not virgins!

Mon, 08/22/2011 - 14:08 | 1586813 Mr. Mandelbrot
Mr. Mandelbrot's picture

Crash and burn BAC bitches . . .

Mon, 08/22/2011 - 14:14 | 1586842 dark pools of soros
dark pools of soros's picture

agreed - they tried to smack me with 5 overdraft fees because they waited on clearing a deposit..  i refi'ed away from them a year ago and closed my account last month..  hope someone else buys their bill pay tech since that's the only thing that worked

 

 

Mon, 08/22/2011 - 19:06 | 1588105 stewmint
stewmint's picture

That just means you don't manage your money very well, or you don't have much money to manage. Ain't their fault.

Mon, 08/22/2011 - 15:08 | 1587139 sunnydays
sunnydays's picture

Couldn't have said it better!

Mon, 08/22/2011 - 14:27 | 1586918 Taku
Taku's picture

Obama, BAC is insolvent.
Your boys gave them taxpayer money last round. What's your next move?

Mon, 08/22/2011 - 14:30 | 1586941 Hugh G Rection
Hugh G Rection's picture

Hey Bank of Amerikkka,

"We WONT help you out."

http://www.youtube.com/watch?v=40K7p3kZO9c

Mon, 08/22/2011 - 19:49 | 1588265 IQ 145
IQ 145's picture

Would all you people just stop saying bad things about BAC; you're making me nervous. Thank You.

Mon, 08/22/2011 - 13:57 | 1586748 BaBaBouy
BaBaBouy's picture

GoldToTheMoon Bitchez ...

Mon, 08/22/2011 - 14:03 | 1586778 spiral_eyes
spiral_eyes's picture

bitches, bitchez:

(from bloomberg)


Prostitutes Flood Vallejo After City Slashes Police

When Ruth Rooney moved in 2005 to a two-bedroom house in Vallejo,California, near Napa Valley’s famed wineries, the historic St. Vincent’s Hill neighborhood attracted young professionals and there were few vacancies.

Things began to change in 2008 after Vallejo, a city of about 116,000 that had lost its biggest employer, the U.S. Navy’s Mare Island shipyard, filed for bankruptcy, said Rooney, a 54-year-old marketing consultant.

“I see prostitutes, pimps and drug dealers out my front window,” Rooney said in a telephone interview Aug. 5. “There’s two on the corner right now.” Her property value has dropped 70 percent in six years, she said.

Vallejo’s experience comes as Central Falls, Rhode Island, proposes $5.6 million in budget cuts after seeking Chapter 9 protection this month and Jefferson County, Alabama, negotiates with creditors to avoid what would be the biggest government filing in U.S. history. There have been five municipal bankruptcies this year, compared with six in 2010, according to data compiled by Bloomberg.
 

 

Mon, 08/22/2011 - 14:04 | 1586789 Cash_is_Trash
Cash_is_Trash's picture

Hookerz, bitchez

Mon, 08/22/2011 - 14:10 | 1586820 bbq on whitehou...
bbq on whitehouse lawn's picture

Seems like a great place to move if you're single. Its the fallout thats a killer.

Mon, 08/22/2011 - 14:13 | 1586833 slaughterer
slaughterer's picture

Exactly.  I think I found my new home: hookers, excellent wine, low real estate prices.  I am moving there. 

Mon, 08/22/2011 - 14:15 | 1586848 Little John
Little John's picture

So long Bedford Falls, hello Pottersville.

Mon, 08/22/2011 - 14:16 | 1586852 LawsofPhysics
LawsofPhysics's picture

first bullish news I have seen in a while.  Now THAT is capitalism...    ...bitches.

Mon, 08/22/2011 - 19:27 | 1588194 IQ 145
IQ 145's picture

She's pretty fucking stupid. What the fuck did she think was going to happen when they closed Mare Island; An economic miracle? There's a time to sell everything; why do people have so much trouble figuring this out?

Mon, 08/22/2011 - 22:54 | 1588912 StychoKiller
StychoKiller's picture

When Capitalism is Outlawed/regulated to death/over-taxed, only Outlaws will engage in Capitalism!   Deal with it!

Mon, 08/22/2011 - 13:58 | 1586749 Fukushima Sam
Fukushima Sam's picture

Meltdown, bitchez!

Mon, 08/22/2011 - 13:58 | 1586751 Cash_is_Trash
Cash_is_Trash's picture

8 bucks from 1,900

Mon, 08/22/2011 - 13:58 | 1586754 LaughingMan
LaughingMan's picture

HOOCHEY MAMA!

Mon, 08/22/2011 - 14:01 | 1586772 runlevel
runlevel's picture

serenity now.. insanity later.

Mon, 08/22/2011 - 13:58 | 1586755 spiral_eyes
spiral_eyes's picture

"the recovery"

nice one b-o. 

Mon, 08/22/2011 - 14:22 | 1586892 1100-TACTICAL-12
1100-TACTICAL-12's picture

Recovery summer draws to a close, next up "____________ " Autum ....

Mon, 08/22/2011 - 13:58 | 1586756 RacerX
RacerX's picture

higher is better, no?

Mon, 08/22/2011 - 13:59 | 1586757 Silvergood
Silvergood's picture

Run on US banks coming next...Get your money out while you can!

Mon, 08/22/2011 - 13:59 | 1586764 flacon
flacon's picture

Bring the chaos. It's about time. 

Mon, 08/22/2011 - 13:59 | 1586758 Shock and Aweful
Shock and Aweful's picture

UH-OH....

Mon, 08/22/2011 - 14:00 | 1586768 Cash_is_Trash
Cash_is_Trash's picture

Indeed, paper is becoming ever-more worthless

Economic Bifurcation, bitchez

Mon, 08/22/2011 - 13:59 | 1586760 flacon
flacon's picture

Poor, poor, Perry. Guess he's going to need to "help" out BAC instead of BAC helping him out. 

Mon, 08/22/2011 - 13:59 | 1586762 slaughterer
slaughterer's picture

Question is if BAC is enough or if Citi has to go to the altar as well.  And then (why stop there?) maybe a trifecta with Dexia being led to the chopping block for the Euro-sacrifice. 

Mon, 08/22/2011 - 14:01 | 1586763 John McCloy
John McCloy's picture

   BAC is the sacrifice absolutely. That should create the needed fear for a TARP 2. It is a great thing Frank Dodd "Allows bad banks to be cordoned off by the Fed and winded down so as not to affect the other banks" -Timmy 

Mon, 08/22/2011 - 14:07 | 1586803 Raynja
Raynja's picture

The fed will change its name to bank of america in a reverse merger.

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