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Moynihan Says His Entire Net Worth Is In BAC Stock
... then it's not a very big net worth, we are sorry to say (and it will get even smaller).
And a chart of his net worth:
And some perspective from last year:
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What Diversification! LOL
What a retard.
All his eggs are in one basket?
i believe you meant "all his eggs are in one frying pan"?
I believe you meant "all his eggs are in the toilet"?
FIXED.
Thanks Mr. Moynihan. I was on the other side of that trade. But I'll buy those shares back with my Oct $9 calls after QE3, maybe.
liar liar pants on fire.
Those are not eggs.
Soon it will be: Buddy, can you spare a dime?
A basket made of plutonium.
Full of anthrax.
That's also on fire.
Sorry to be a party pooper, but I read that as assets - liabilities = assets held in BAC.
Should still mean he's going to have to explain to his wife why he's out of a job and they have to sell the furniture, though.
A basket made of plutonium.
Full of anthrax.
That's also on fire.
That has birth defects from anti-depression pills.
And is full of fail.
Unrelated...well, somewhat, but buddy just texted that he heard Obama is to meet with Fed...
Anyone heard this yet?
https://twitter.com/#!/zerohedge/status/101339082118004736
http://www.washingtonpost.com/business/economy/grappling-for-economic-fi...
Dumb and Dumber.
Nothing like a few arsonists getting together for a meeting about how to control their fires.
but buddy
Watch the silverware.
Barry, your manager is here to see you.
Question is....who called the meeting?
As the Cubans in South Florida say; All his eggs are under one chicken.
Why would you believe him?????????????????
How many off shore, hidden accounts and assets do you think a guy of his caliber has - the answer is definitely not zero!
Exactly, when has one of these guys ever told the truth pubicly. An attempt to restore some confidence based on lies.
It would be funny if it turned out he's got a few stacks of kilo bars offshore.
Retarded...that was my first thought also (well, actually, f'ing retarded, but why quibble).
Love those BAC bashing going on here unabated. Seems Zh really has some axe to grind with BofA. I loved the article where the tough questions to be asked in the berkowitz call were listed - that was good stuff, indeed. But apart from that there is pretty much pure bashing lacking any substance. I am a buyer of BAC here, let's see who will have the last laugh...
Its also coming upto "redemptions" Friday.
Its going to get messy on that frount.
Why would you broadcast that? Dooohh
...and you believed him?
I'm quite confident he's lying.
Could be true for all we know. Those bastards have the habits of spending money on high class hookers and cokes, fine wine and expensive booze!
+4,000,000
+3,999,999
+3,999,998
:-)
OUCH!!!
Either he is a liar, or just pathetic.
Either?
My faux pas, I apologize. He is a pathetic liar.
You're telling me that the CEO of a money-center bank never learned the most basic investment principle of diversification?
What is this fool doing, running an investment institution?
Where do they find these brain-damaged losers?
"Diversification is for the uninformed" - Warren Buffet?
Diversification guarantees mediocrity.
Diversification for me is 1/4 gold and 3/4 silver.
The old string to wax formula. Always works.
Poor, poor Brian.
For poor pathetic lying and stupidity, I liked Ken better.
someone better get a mat outside BofA. Don't want a bloody mess when he jumps out his window
@blythe--have a heart, use commerical grade carpeting. it has a little more cushion to it, and it cleans up nicely.
Call in the Zips with the Industrial plastic, Hack Saws, Rubber Knee high Boots and Aprons!
Put a dumpster there. It will give new meaning to the term dumpster diving.
http://www.youtube.com/watch?v=yge311sFhC8
Jump!
Glad to see a Bankster get financially ruined instead of just the people.
Don't worry. They can always fly to Dubai and enjoy the Filipino hookers. We're actually stuck in this godforsaken country.
+lbfm's
Lol someone just asked your question re reps+ warrants Tyler.
His future is out a window.
South Korean stock broker jumps to death off building after heavy financial losses, police say Read more: http://www.nydailynews.com/news/world/2011/08/10/2011-08-10_south_korean_stock_broker_jumps_to_death_off_building_after_heavy_financial_loss.html#ixzz1UeSqgfu0Maybe his "clients" were none to pleased.
They say buy when there's blood in the streets
Even janitorial employees learned not to have their whole 401K in the company stock after Enron, didn't they?
He should have put it all in FOSL, like Momofade did. LOL...
This is actually encouraging. They say that if you want to get back at rich people you try to make them poor. This guy is making himself poor.
Now that's karma.
Gives new light to the phrase 'giving back to the community'. I do appreciate it.
just sharks feeding on a whale.
Maybe he'll replace Little Timmy.
He's still got almost 4 million - not exactly ruined like he helped do to so many others.
Just wait a few months....
or days....
Thanks Tyler, I really did need a good laugh today. Im going to go in the other room and smoke some hopium, maybe that will make this headache go away.
Aren't they too big to fail?
What kind of a CEO puts his entire net worth in any one company or stock. That alone tells me he should be fired.
Sounds like a good reason to sell to me
So, this tells me he is underwater on his mortgage(s) as well.
Thats says 3 million ?
Giether is only worth like 2.5 million.
But that's marked to market when the market stole your sharpie and your crazy pills.
Does anyone actually believe that his entire net worth is in BOA stock? You have to wonder at the strategy (??) behind such a statement. Kinda like Bernanke announcing that his entire net worth is in UST's. Keep your eye on this hand folks - just ignore the other.
Is he on food stamps too?
I wouldn't give a lot of credibility to a guy who says the "fundamentals" today are better than during the credit crisis.
He just told everybody out there to hit his book. I'm glad I own puts.
lmao!!!
william, can you do a HAL 9000 in the algo fractal gone wild article on this page?
I wan't to see HAL 9000 get all independent and refuse to do any more PPT interventions, WB7 style.
Either he lies or he is telegraphing the fact that BAC is getting bailed out by the taxpayers. Again.
14:35/2:35 est -
Equities markets are about to literally implode. Short this bitch hard and repeatedly, homefries.
Is it going that bad?
It's not a loss until he sells.
I THINK BAC IS A BUY!!!!!
at 40 cents....
Think again!
4 cents?
2 bits, max
But on the positive the yield is going up and should hit infinity as it approaches zero. But then the time to receive the dividend may also go to infinity!
He's all-in bitchez!!!
I wonder if BAC knows QE is coming and they were responsible for the big direct bid.
Was at 7.10 low 7.04 waiting for elevator
1:1 BAC/ES correlation
so he isnt paying his Mortgage either ?
And are we supposed to feel bad for him? because my initial reaction is laughter.
cant think of a better reason to watch BAC go to ZERO
I hope he holds on until zero. He has deserved it.
Brian will mark his position up so high, the accountants will need intraveneous heroin drips.
Hey, just like with those delinquent/foreclosed properties they, the other banks and the GSEs are holding.
Mark to unicorns and pixie dust!
His entire net worth in...
His Name (Personally).
Does NOT! Include!!
His Irravocable Trusts!
on shore!
or..
off shore!
Corporations!
LLCs!
LLPs!
P.A.s!
Trusts!
and / or any other way he has hid is Physical Gold in the Back Yard under a rock! LOL!!
You mean he knows inside information, and he still got it wrong?
My entire net worth is at home... in a safe... bolted to the sub-floor... surrounded by robots with lasers and rabid monkeys....
One part of that statement may be an embellishment ;-)
Mine is in six different locations including two out of state.
If you disperse, you don't have to die in defense of any one cache.
At the very least, have one easy to find stash, so the locals will just take that and move on.
That would be true... but the embellishment was my net worth... the robots with lasers and rabid monkeys are real... ;-)
You couldn't afford the sharks with laser beams option?
If it were my defenses, I wouldn't mention all of the layers either. That's part of the moat layer. Sheesh, come on! ;-)
I live near only fresh water. No one will ever expect mutant catfish with laser beams.
What defenses?
I feel smarter knowing there is someone that stupid out there in the world.
bwahahahaha!!!
Wow...he must have an MBA.
shit, it's not like he had to pay for it, the hardest part of his job are these conference calls, and most of his net worth is NOT in bac stock, he's not that dumb
but he is that "scum"
At least when the federal government takes it over they won't even have to change the name.
Entirely off subject, has anyone else lost their post list under My Account? Apparently, I missed a memo...
Is Hank Paulson having PTSD flashbacks or does he have a raging boner?
Pop quiz, hotshot. There's a bomb on a bus. Once the market goes -400, the bomb is armed. If it drops below -400, it blows up. What do you do? What do you do?
That was funny. And now i feel bad.. or would if it was a working stiff and not a ruthless, savage playing lord of the flies.
Ah, couldn't happen to a nicer guy. Except Ken Lewis - now that's Satan incarnate.
BAC stands for Brian Ass Crack!
Guys, Brian just called me, he wanted to set the record straight and he told me that he doesn't have all his networth in BAC and that he misremembered that he already spent his wealth on butt plug gifts to Barney Frank as well as midget tossing nights out with Ben, Hank, and Buffett.
no houses, cars, yachts, only $4M in BAC stock? The other bankers are laughing behind his back.
Can he get a no doc Ninja loan and sell it to fraudy mac or mae I?
He can say under CRA he wants it and needs it and its his right?
What hes in foreclosure too?
Well tell him to HAMP it to a BAC office and refi......
LOL.
JUSTICE
The most hilarious part is that I believe him. This dude is so out to lunch. Is BAC just the spot for everyone else to unload their fiat?
What Mr. Moynihan did not say was that since early 2010 he has been a net seller of BAC stock. After the FleetBoston merger he had over 700,000 shares of BAC. The conversion rate was .5553 BAC shares ton each Fleet share. His holding prior to the merger was well over 1.4 million shares. SEC form 4 filings tell the story.
What Mr. Moynihan did not say was that since early 2010 he has been a net seller of BAC stock. After the FleetBoston merger he had over 700,000 shares of BAC. The conversion rate was .5553 BAC shares ton each Fleet share. His holding prior to the merger was well over 1.4 million shares. SEC form 4 filings tell the story.
Entire net worth in one stock (BAC)... And we're supposed to trust this guy to manage BAC's risk?
That last chart is kinda deceiving... he might have a larger percentage of his total networth in BAC than other bank CEOs. But because the stock price for BAC is only $7 his total net worth in millions is probably going to be a lot less than say Floyds. Also, if Citi bank didn't do a reverse stock split Pandit would probably be the one at the bottom of this list.
Eric,
With no due respect, you are a dip shit. Stock splits do not affect absolute value, only number of shares.
Young Grasshopper, chew your words before you speak.
The last of the Moynihans...
edit.
you see...what we do here is put the word "fortress" in front of "balance sheet" and voila!
He must have a mortgage from his own bank.....and it's underwater.
Too bad Brian doesn't have his wife's art collection to sell like Dickie Fuld did....
Tyler(s), call your phisician...
you've obviously had an erection for longer than 4 hours for BAC, wondering if they at some point if you were an employee? Just wondering...
HAAHAHA MUAHAHAHAHAHHAHA MUAHAHAHAHHAHA MUAHAHAHAHHA HAHAHAHAHAHAHA AHAHAHAHAHHAHAHAHAHAH MUAHAHAHAHHA AHAHAHAHAHAHA MUAHAHAHAHHAHAHAH HAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHA /stroke
Yea, what he said. Minus the stroke please.
I never owner any BAC, but I did stay at a Holiday Inn last night.
I never owned any BAC, but I did stay at a Holiday Inn last night.
Just the captain going down with the ship, that's all. Supposed to boost confidence in a bankrupt bank.
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