Here Comes TARP 2: Bank Of America Implodes, At $6.87, BAC CDS Up 20% To 260 bps As Bankruptcy Contemplated

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Mon, 08/08/2011 - 11:33 | 1537334 anynonmous
anynonmous's picture

I thougt Dodd Frank fixed all of this

no more too big to fail,right?

Mon, 08/08/2011 - 11:36 | 1537357 Cleanclog
Cleanclog's picture

Anyone hearing of clearing clogs yet?  Counterparty freezes?  Are banks avoiding trades with BAC, C, etc yet?  And Europe?  Already had interbank risk problems last week.  What you hearing today?   Thx!

Mon, 08/08/2011 - 11:42 | 1537405 hedgeless_horseman
hedgeless_horseman's picture

GOOG seems to have pulled the plug on its finance portal.  /transitory/

Mon, 08/08/2011 - 11:44 | 1537413 Cognitive Dissonance
Cognitive Dissonance's picture

Everyone is slowwwwwwww today. It seems the world is waking up to the real time financial fun house.

Mon, 08/08/2011 - 11:53 | 1537456 spiral_eyes
spiral_eyes's picture


America stagflating, Britain burning, Europe degenerating, here comes Benny to save the day with fuckloads of TARP cash. Back in the real world, another TARP would surely put the American credit rating at BBB at best, increasing likelihood of the death of the dollar as the global reserve currency to at least 9000%.


Mon, 08/08/2011 - 12:01 | 1537493 walküre
walküre's picture

You're quite mistaken.

The more it burns, the more the world keeps running back into the Dollar and Dollar denominated paper.

Look, the masters who setup the system and officiated the syndicate in 1913 are completely in charge. They own over 50% of all the world's wealth, maybe more.

This is their game, they're in charge. Their favorite gimmick is the US fiat and the US treasury paper.

Printing more of it actually increases the value. That's fucked but that's how smart these vermin have established the trade and the deck.

Mon, 08/08/2011 - 12:37 | 1537729 Haywood Jablowme
Haywood Jablowme's picture

The more it burns, the more the world keeps running back into the Dollar and Dollar denominated paper.


You gotta link?  Please don't talk about things you clearly don't know shit about.....




Mon, 08/08/2011 - 12:51 | 1537804 Spitzer
Spitzer's picture

He is wrong.

The only reason treasuries are going up is because that is how all bubbles pop. They must got up beyond belief.

If the asset that got downgraded is going up, that is beyond belief enough for me.

Mon, 08/08/2011 - 13:13 | 1537932 Haywood Jablowme
Haywood Jablowme's picture


He's correct in saying that this is their game but that's it.  The banking cartel positioned themselves out of USD a looooooong time ago.  On top of that, countries don't flock to USD then immediately strike trade deals in their own currencies and/or soon-to-be reserve currencies.  For someone that's been around for 1 year and 51 weeks, walkure hasn't been paying much attention....

Mon, 08/08/2011 - 12:01 | 1537494 Cleanclog
Cleanclog's picture

Whoa,  Goldman just traded at $119!  Getting ugly for all the financials!  Couldn't happen to a more deserving group.

Mon, 08/08/2011 - 12:13 | 1537542 gangland
gangland's picture


GS a buy at 110


Mon, 08/08/2011 - 12:18 | 1537575 slaughterer
slaughterer's picture

Wait for at least $80 on GS before buying. 

Mon, 08/08/2011 - 12:36 | 1537718 Yardfarmer
Yardfarmer's picture

Apple is waiting in the wings.

Mon, 08/08/2011 - 12:06 | 1537515 fuu
fuu's picture

This is the only thing working consistantly for me today:

Mon, 08/08/2011 - 11:49 | 1537442 Pladizow
Pladizow's picture

BOA has been held on death row for years and each passing day brings us closer to the day of execution.

I grin as if BOA is a criminal that murdered a friend.

Mon, 08/08/2011 - 12:23 | 1537620 Taint Boil
Taint Boil's picture

One of my all time favorite stories I know BAC was one of them. Couldn't of happen to a better company.

How I stuck it to the credit card companies

Mon, 08/08/2011 - 11:58 | 1537480 Life of Illusion
Life of Illusion's picture



Nothing is too big for FED when Dodd-Frank granted super liquidation powers to the FED.

A controlled liquidation is a political connected investor’s dream come true.


Mon, 08/08/2011 - 12:17 | 1537571 slaughterer
slaughterer's picture

Today is the first day institutional holders of BAC-L Series L Preferred shares are frightened of BAC not maintaining the dividend on their senior preferred.   BAC-L is very good short, till about $350.00 cover, since BAC-L has only recently, in distinction to the common, started its plunge.   

Mon, 08/08/2011 - 12:18 | 1537573 mt paul
mt paul's picture

too big

to stop

from failing ...

Mon, 08/08/2011 - 12:42 | 1537765 Stochdoc
Stochdoc's picture

You are confused with Beans and Frank.

Mon, 08/08/2011 - 12:48 | 1537792 IQ 145
IQ 145's picture

Sold ZBU1@134-26/SHORT. at 11:47 NYDT today. That's the CME Long Bond Contract.

Mon, 08/08/2011 - 12:53 | 1537810 IQ 145
IQ 145's picture

LOL! Yeah, right. AIG; too big to fail, too big to run properly, terminally fucked up; needed a bullet in the brain, instead it got bailed out; big mistake.

Mon, 08/08/2011 - 13:41 | 1538157 DosZap
DosZap's picture

IQ 145,@ 12:53

Bro, when it comes to this stuff,it's not a mistake,it's by design.

Mon, 08/08/2011 - 11:32 | 1537335 g
g's picture

Interesting that I happen to be watching today.

History repeats itself and that sucks, come on people wake the fuck up.

Mon, 08/08/2011 - 13:07 | 1537908 Escapeclaws
Escapeclaws's picture

Thanks g. This film is a real eye-opener. I was amazed at the parallels with the US. Menem could be a model for Obama. He literally stood up before his people when he was a candidate and shouted 5 times, "I will never betray you." Then when elected, he did a complete about face in every respect. Watch this film, you will be amazed and it will enable you to see what the program is for the US and what to expect from this crisis, which also had its Argentinian counterpart. There is nothing new under the sun. You can see clearly that there is a script for what happened there when you look at what is happening here.

Mon, 08/08/2011 - 11:34 | 1537340 jus_lite_reading
jus_lite_reading's picture

THIS is it boyz and gurlz!!!


GAME OVER!!!!!!!!!!!!!


CAN anyone confirm that they have limited bank withdrawls at BAC????
HOLY!!!!!!!!!!! WTF!!


Mon, 08/08/2011 - 11:36 | 1537359 Stoploss
Stoploss's picture

Closed my accounts 2 weeks ago, let the bitch burn.. I wanna see the pics of the lines around the buildings when the run starts.

Mon, 08/08/2011 - 12:55 | 1537822 IQ 145
IQ 145's picture

Agree. As the Bikers used to say in Oakland; "Fuck'em if they take a joke".

Mon, 08/08/2011 - 11:43 | 1537409 pepperspray
pepperspray's picture

My brother in law told me a Times Square BAC ATM was out of service Saturday Night.

Mon, 08/08/2011 - 11:58 | 1537472 FischerBlack
FischerBlack's picture

Did an online bill pay for $12K to my mortgage and what would normally be a next day thing is delayed until the 11th. Don't know if this is evidence of a problem. I've never sent that much money out before using the online system, so it may just be normal for the size of the transaction. Can anyone else confirm?

Mon, 08/08/2011 - 12:02 | 1537500 walküre
walküre's picture

You paid 12k towards your mortgage? Today?

Why would you not take that money out and buy gold instead????

Paying a mortgage.. now that's rich!

Mon, 08/08/2011 - 12:27 | 1537648 Haywood Jablowme
Haywood Jablowme's picture

+ a -3% $INDU....

Some people just don't get "it"....

Mon, 08/08/2011 - 12:58 | 1537843 IQ 145
IQ 145's picture

I bet this dude knows the name of every finalist on American Idol, and can quote last nite's MSN propaganda release, word for word; too bad he has no idea what's going on in the real world.

Mon, 08/08/2011 - 13:41 | 1538153 FischerBlack
FischerBlack's picture

Is it safe to assume you don't have 12K lying around right now? That makes you either stupid or poor. In either case, I'm almost certainly better off not taking your advice.

Mon, 08/08/2011 - 11:33 | 1537341 bania
bania's picture

so sorry bank of cramerica

Mon, 08/08/2011 - 11:37 | 1537367 Caviar Emptor
Caviar Emptor's picture

Cramer had a raging, headline buy with a price target "I think it can top $20" 

Mon, 08/08/2011 - 11:48 | 1537439 astartes09
astartes09's picture

I remember a similar piece about Bear Stearns.

Mon, 08/08/2011 - 13:02 | 1537866 IQ 145
IQ 145's picture

I see people talking about this person Cramer; I don't do TV personally; that's a remarkable quote. Of course, it's possible it could go to $20; but I'm convinced that one should be interested in what's more probable, and if possible, in what's most probable. He must be a very strange person.

Mon, 08/08/2011 - 11:34 | 1537344 drswhaley
drswhaley's picture

Where are Tepper's balls right now.  Looks like he got out according to Faber - when did he do that?  Did he lose like Paulson?

Mon, 08/08/2011 - 11:34 | 1537350 jus_lite_reading
jus_lite_reading's picture

HIS BALLZ got stapled to the walls so he left them there!!!

Mon, 08/08/2011 - 11:42 | 1537403 Freewheelin Franklin
Freewheelin Franklin's picture

He also dumped Wells and most of Citi, according to CNBC.

Mon, 08/08/2011 - 11:34 | 1537345 tmosley
tmosley's picture

Is AIG controlled by Waddell and Reed?

Must be.  They killed Kenny, those bastards!

Mon, 08/08/2011 - 11:34 | 1537347 papaswamp
papaswamp's picture

Bank run?

Mon, 08/08/2011 - 11:34 | 1537349 monkeyboy
monkeyboy's picture

Soooooo, if you had your funds in BOA would you be withdrawing them, or is way past that time to be worrying about taking your cash out?

BOA bankrun?

Mon, 08/08/2011 - 11:38 | 1537376 Cleanclog
Cleanclog's picture

I'm gonna go withdraw some there at BofA now . . . and some more at my community bank.  Just in case.  Not really saying ya should.  But cash does look pretty next to my gold and gems.

Mon, 08/08/2011 - 11:40 | 1537390 The Shootist
The Shootist's picture

Banken Runnen ! Sheep, GO!

Mon, 08/08/2011 - 11:42 | 1537399 Cthonic
Cthonic's picture

Took vast majority out in 2008.  I only keep a small checking account open there for online bill pay... may be time to prepay some things today, lol.  Oh if you think BAC will fall alone, don't forget about all of the money market fund and now account redemption suspension authority put in place in the past few years.

Mon, 08/08/2011 - 11:46 | 1537423 LibertyIn2010
LibertyIn2010's picture

...ashes, ashes, we all fall down.

Mon, 08/08/2011 - 11:35 | 1537352 JW n FL
JW n FL's picture

we need 25% for QE-3 not 20%!

come on 25% drop!!!

o wait we are already there plus!!


to much cow bell!

Mon, 08/08/2011 - 11:38 | 1537377 JW n FL
JW n FL's picture

I wonder who will be a Jackson Hole this year calling QE 1 and 2 a failure? and walking away looking like a hero! all the while the Banks charge more interest on our National debt to off set the losses in real estate.

who will be the person that entertains the sheep while the bankers rob "We the People" blind thru national debt payments?


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