Bank Of America Scrambles To Defend Itself From Henry Blodget's Allegations It Is Massively Undercapitalized

Tyler Durden's picture

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hambone's picture

Stocks rock - Gold sucks...the market tells me so.

trav7777's picture

well fuck, they stuffed CFC and MER inside BAC, wtf did they expect when these rats finally chewed their way to the light?

bankrupt JPM buy silver's picture

why is the XLF rallying if they are all going to zero?  Here comes the shit show....

 

www.silvergoldsilver.blogspot.com

hambone's picture

Once this rally loses it's up trend line...watch out.  Could come back down and retest 1101 in short short order.

JW n FL's picture

 

 

Some of WikiLeaks' Bank of America Data Destroyed

Some internal Bank of America files obtained by WikiLeaks have been destroyed, according to a former close collaborator of Julian Assange, the whistleblowing website's founder.

In an email to Reuters, Daniel Domscheit-Berg, who last year was fired by Assange as WikiLeaks' co-spokesman, confirmed that he had destroyed "roundabout" 3,000 submissions WikiLeaks received related to Bank of America.

http://www.banktech.com/risk-management/231500497?cid=nl_bnk_daily

JW n FL's picture

 

 

 

U.S. Bank Earnings Up From A Year Ago

U.S. bank earnings continue to increase but the trend is mostly due to institutions setting aside less to guard against losses, a top regulator said on Tuesday.

The Federal Deposit Insurance Corp said that the industry earned $28.8 billion in the second quarter, a $7.9 billion increase from a year before.

http://www.wallstreetandtech.com/asset-management/231500555?cid=nl_wallstreettech_daily

Who said that the Debt Ceiling being raised was a bad thing? QE1 and QE2 worked really well!!

Careless Whisper's picture

oh please, the whole wiki / b of a story smells.  i'm thinkin' that they either had nothing to begin with or maybe they got a nice contribution to do the data dump... who knows.

Steaming_Wookie_Doo's picture

Yeah, saw that yesterday. I guess that tells us whose dick Mr Dumscheit sucks.

Buckaroo Banzai's picture

Domscheit-Berg?

Huh. Is that pronounced "dumb shitbird"?

IQ 145's picture

Please, let's have a little sensitivity here; I own 1000 shares at $7.37; and before long you will have an opportunity to bail me out at a nice profit. HA HA. Come one, taxpayers we're rooting for you. Wait a minute, I'm a tax payer; hmm. this is getting confusing.

AbandonShip's picture

Yeah man, I'm confused too.  I hate BofA but I think I hate Blodget more.  What to do?

eureka's picture

How about re-testing 1050?

Is Dick Bove just a bonehead, or a liar/cheerleader?

Dick says BAC is smack with capital and "deposits pouring in" ... - WTF...?

If the latter is true, who's depositing? The Bernank or the sheeple?

http://www.bloomberg.com/news/2011-08-23/bofa-has-no-reason-whatsoever-t...

Steaming_Wookie_Doo's picture

Dick is mostly a bonehead, which makes the lying/cheerleading easier, since you don't have those pangs of conscience bugging you while the camera's on. The only "deposits" at BofA would be the steaming turds left by the front door of newly ex-customers.

Stax Edwards's picture

He s e, we get it, you have a blog that no one cares about, so you cite it in the first few comments on every single post.  We get it.  If you have not built up a following by now its not gonna happen by repeating yourself ad-naseusm.  Can you give it a rest or do like the rest of the advertisers and buy some click thru ad space?

CompassionateFascist's picture

That S&P graph for the past month. Let's call it the "beached whale" curve. Like our entire economy.

TruthInSunshine's picture

 

 

 

08-23 12:28: 24/7 Wall St Writes: JP Morgan may take over Bank of America

 

WTF!!!!??????

 

MORE TAXPAYER RAPINGS (minimum 100 Billion). AIG Part Deux!!!

DOWN WITH THE BLOODY WALL STREET PONZI

RESIGN, GEITHNER & BERNANKE. RESIGN !!!!!!!!!!!

j0nx's picture

Good so now I know who I will be paying 10c on the dollar to for my BOA credit card debt. I already told Chase to fuck off in the worst possible way 10 years ago after I paid them off and have no trouble doing it again this decade.

TooBearish's picture

Tyler gunna bitch slap u then lecture u on links to hack web sites like this one

TruthInSunshine's picture

Hi Sock Pupper version 3.0

Have fun trolling while it lasts for you.

Byte Me's picture

Do come back often when your command of the English language reaches 7th grade level.

'Til then -- fuck off...

glenlloyd's picture

out come the really horrible ideas, like lets' have JPM takeover a failing BAC.....would be even more TBTF.

OTOH...BAC might just be enough poison to kill the new host....just maybe?

doggings's picture

08-23 12:28: 24/7 Wall St Writes: JP Morgan may take over Bank of America

WTF!!!!??????

MORE TAXPAYER RAPINGS (minimum 100 Billion). AIG Part Deux!!!

DOWN WITH THE BLOODY WALL STREET PONZI

RESIGN, GEITHNER & BERNANKE. RESIGN !!!!!!!

anybody who has been keeping up with the SilverGoldSilver bears would know this already.  SGS basically announced was coming this via teddy bears 2 weeks ago. 

http://silvergoldsilver.blogspot.com/2011/08/part-7-silver-bears-talk-of-epic.html

eureka's picture

I told a friend two weeks ago. Intuition has no filters. Isn't it an obvious repeat of 08/09? WFC will probably get C.  Consolidation Bitchez - bigger too big to fail bankster capital collectives courtecy of the elite.

Will the sheeple react? Will the Tea Party? Will zerohedge readers stop reading and start blowing up banks?

Kali's picture

Maybe that's what Uncle Warren was talking to lil Barry about.  : )

Popo's picture

 

OMG.  That's **ALL** BAC had up their sleeve?   An ad hominem attack?

Hehehe.... Short this pig to fucking ZERO.   I can think of no greater admission of absolute terror on BAC's part.   They had **NOTHING** to fire back with.

Honestly, that was one junior-varsity display of public relations skill if I've ever seen one.    Target all weapons and fire at will.     

Dive Dive Dive!    AROOOOOGA!

 

Crack-up Boom's picture

Seriously!  When you have to resort to logical fallacies, you're out of bullets.  Somebody just put BOA out of its (our) misery!

Careless Whisper's picture

every time i read another story about b of a i feel like i'm watching the hudsucker project

http://www.youtube.com/watch?v=vldMyJmaVjk

 

Tunga's picture

... and we're gonna call it the "Edsel"! Whadda you think?

slaughterer's picture

Branch Hill Capital/ZH/HenryBlodget -vs- BAC

1: 0 (for not providing exact figures, but just stating "factor of..." over and over, smearing Henry, and not mentioning Tyler...)

CompassionateFascist's picture

Henry's a pig; an avid, mischievious little kid who never grew up. He thinks Trig is Sarah's brat, not the daughter's. Absurd. OrIzzit?

Smiddywesson's picture

Oh, I wouldn't be so hasty troll.  Two weeks ago,1858 was a real good price.  Two weeks from now, 2085 will suit me fine.  If it keeps going up, I don't mind giving up profits.  Apparently you don't mind either, because you game back all the profits since 2000,

John McCloy's picture

  We know dilution is coming and that is unavoidable. Time to issue more shares Brian.

DefiantSurf's picture

who would buy the dilution?

Pladizow's picture

Uncle Sam, i.e., those who have always, and will always get fucked - the US tax payer.

slaughterer's picture

I think another 50 billion shares priced at $2 would suffice for 1 or 2 years more.  Could always R/S 10:1 to make it look respectable later.  

unununium's picture

Haaaaa that's only 150 shares for every man woman and child in the USA.  Nationalization, bitchez.

Boilermaker's picture

Depends what you mean by massively?  If by it you mean gi-normously on a biblical scale...then, yes.  If you mean just the normal massively, then no.

mberry8870's picture

Me thinks he doth protest too much!

Two Towers AU AG's picture

How much time does it take to get the money out of a failed bank.. considering my deposit are lower than the 250000 USD insured amount....

New_Meat's picture

I'll get back to you on that.

HelluvaEngineer's picture

It depends on if the roads are passable

optionsoptions's picture

If your deposits are under $250,000 then you won't even notice the bank failed. It will take a second at the same branch you always go to but with a different name.

 

ps. These deposits held at BAC are actually their liability. They are swimming in deposits that they can't/won't loan out so this would be helping their Capital Ratios.

oogs66's picture

wasn't it a hedge fund that said over and over that lehman was a house of cards and would collapse?  thing he was right and now owns the mets

zenbones's picture

But he owns the Mets and is now wrong.

reader2010's picture

Bank of America will NOT be allowed to fail, and will be bailed out at the global taxpayers' expenses. 

CClarity's picture

Au contraire!  The depositors will be covered by FDIC and if need be taxpayers.  Banking services will persist at BofA, but stockholders, preferred and otherwise, will NOT be bailed this time.  Bond holders in some jeopardy too, but less as the banking entity will live on.  Small percentage that it will actually be nationalized if European authorities go that route.  

Johnny Yuma's picture

Uh... Sorry, the FDIC does not have the funds to cover BofA's deposits. If taxpayers cover this, there will be massive consequences. What will most likely happen is BofA will be dismantled with another big bank buying up the "good assets" while the rest are, dare I say, guaranteed by the Fed or Treasury and sold in smaller tranches to investors. Should this come to fruition, BofA will be dead and gone.