- advertisements -
Tyler, you don't expect a criminal to tell the truth, do you?
The shoe fits the BACrupt. White-collar-criminals.
bank of america not bankrupt?
in related news, steve jobs return to apple to accounce ipad3
This all just too funny.
Keep them squirming, Tyler.
Open your eyes!
Monday: Buffet talks to Obama.
Tuesday/Wednesday: B of A looks like collapse.
Thursday (early): Buffet announces $5 billion preferred stock deal with B of A.
Thursday: Immediately following Buffet announcement, the White House announces a plan to bail out distressed residential mortgages, of which B of A is loaded with! Jimmy gets to chow down at the tax table, compliments of Obama and whats left of the middle class. Oh, and don't forget, Buffet is hosting a $35k plate fund raiser for Obama in NY.
B of A gets a life line. Buffet gets free tax payer money. Obama rides to the "disteressed" home owners rescue. And the middle class gets presented the bill! Isn't that wonerdful? (sarc off)
Ain't free market capitalism cool!
Closing in the red, bitches
I am praying to the stock market gods for that . . . .
BAC farce meet BAC reality.
Ouch, that's gonna leave a mark.
Warren just failed as a BAC fluffer.
There is no dilution like preferred dilution, especially at a discount to par.
Let's see.... Aw Shucks, Uncle Warren bought $5 billion of Goldman, "proving" the Giant Squid didn't need it.
1. $13 billion taxpayer money slipped to the Squid through AIG.
2. Cobbled together access to Fed funds in the tens of $billions for the Squid.
Yeah, sure... everything is peachy at BAC
BAC needs a whole lot more than 5 billion.
Maybe, but this should last them through the end of August . . .
Yeah a week... and then what? Obama bails them out?
welp, time to suck that last client payout out of bac and then close the account for good. lets see how long that 5b lasts.
Is the part where say to the dying man that he's going to be ok just before he fucking dies an agonizing death?
"You can hack it Cowboy."
Alternatively, this is the part where the horrifically wounded BAC asks if it is going to die and Uncle Warren says, "not today."
If by dying man and aganozing death you mean Buffet when he realizes his left wing ideology of "everyone rich should pitch in MORE" translates into a $5 billion loss and it is his stroke, triggering a massive corinary followed by falling down the lobby escalator at BAC only to crack his head open and watch his own brain ooze out before him....
Then no...This isnt that part. Or is it?
When will the equity market wake up! It is 2008 all over again but worse.
BAC to the future (for about 20 minutes) then streight BAC to reality
All the headlines recently have been saying "this is nothing like 2008".
That's why this Sept/Oct will be exactly like 2008.
reverse reverse psychology! It's a mutha!
am actually loving the updates of ZH and Banzai on Twitter...hilarious...
that dickhead Roubini...still fighting ..no one listening to him anymore...
Um, now might be a really good time to ask for your money if you have a BAC acct. Better beat the herd.
Suck it up Munger. LOL
Wonder if Buffet knows the feeling to hold sub-prime slime?
wow ,, i guess 5 bln are not what it used to be anymore..
probably bought couple more days...
I'd love to know if Warren took out a 0% no-recourse (naturally) loan from Uncle Ben to buy $5B worth of senior, preferred, and 6% dividend shares.
Bank of America has FOUR office towers in Pasadena (Corner of Lake and Colorado) that are all mostly empty. A few of these were taken over from Countrywide. Good luck finding tenants for those properties.
A few years before the financial crisis, I used to point out how all the major towers had bank names on them... and how it was pretty clear we are screwed at some point. I had no idea at that time the depth of those waters. Nonetheless, the writing was on the wall for all to see. Every skyline shouted out "who's your daddy, bitches."
I actually tell that to people. In every city the largest and most opulent buildings are invariably banks. That should tell you where all the money goes.
Here in Rochester (NY) it's the KODAK building.
Not exactly a bank, but just as fucked and mostly empty.
There is talk about moving the local community college into the unused portions of the building. Still has a ( now unused) cafeteria to serve upwards of a thousand people at a time.
Feel sorry for Rochester, and Buffalo. Grew up in around Bingo. Empty IBM buildings galore in Endicott.
Genny Red Eyes I miss.
Whenever we head back to upstate it is sad how bad it has gotten. People in Bingo seem like they had the life sucked out of them. Which, when I hear about property taxes, etc, seemed pretty valid.
Still miss the smallmouth and muskie fishing though.
Ha, grew up north of Syracuse, hard to imagine it used to be a nice place. Allied Chemical, Carrier, Crucible Steel, ... all gone.
Ya wanna make money in Las Vegas? BUY a casino!
I hope ZH has a contingency plan in place. Poking the 900 lb gorilla is at some point going to get some serious attention. Bravo ZH. Rock on. The truth is a bitch, isn't she?
Truth is the cleaner.
funny, Tom Brown had the exact same talking points (symbolic) on Bloomberg this AM
as BAC approaches Uncle Warren't strike price
"Uncle Warren't"...typo or pun? ;)
i smell blood in the water
and there are those who will mock, deride, laugh at, scorn and ridicule those of us who have said nyet to the paper parlor games in favor of the real mccoy - gold and silver.
hat tip to all brave souls who insist on playing the paper games. you've more guts than a skydiver.
I second that. However I am forced to play the paper game with my pension that i will have no access to for 20 years. Have is all in Au and Ag ETFs and PM mining stocks - I wonder if I will see any of it?
If BAC is really going down the toilet, this little footsy play from Warren is already gone...pfft...into the hole.
Look for the deficit ceiling to be reached and BAC to really fail in the fated month of October.
What do you bet Warren has his cocktail napkin with 'IOU 100+50 % --Tim and Ben' jammed into his jacket pocket at Jackson Hole even as we sit n spin about all of this....
Now is probably not a good time to own bank stocks. Owning shares of a gold/silver depository in a state such as Minnesota, Utah, Virginia, North Carolina, Idaho, etc., would be much better. (http://www.huffingtonpost.com/2011/05/22/utah-gold-standard-silver_n_865333.html)
Why take on counter party risk? Get physical.
Countdown with Keith Olbermann 08-19-2011 2 - S.E.C. No Evil, with Matt Taibbi
No Worries! The S.E.C. is watching Bank of America VERY CLOSELY!!
My guess is blood pressure is up across the country.
<----------- Law Enforcement is a Fucking JOKE! in this Country!!
<----------- Law Enforcement is NOT! controled by Government Lobby Whores and is doing a GREAT! Job!!
We have more F.B.I. / S.E.C. / add other three letter group of idiots who are bought and Paid for Lobby Whore Lacky's!!!
than there are members of the same groups investigating Wall Street!
we need a better Lobby for ZeroHedge!
ok.. Tyler lets pass the hat so that we can BRIBE.. Oops, I mean Lobby the S.E.C. to look the other way in any and everything we do here!
HEY! F.B.I.!! YOU! ARE!! A!!! FUCKING!!!! JOKE!!!!!
Vote with a Bullets!! Help take America back from the Lobby Whores who OWN Law Enforcement!!
@JWnFL Palm Beach, FL / Spanish Cay
Corporations Own the Lobby!
The Lobby Owns the Government!
Law Enforcement works for the Duly Elected Lobby Whores!
We the People = Screwed!
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.