Presenting The Key Questions To Be Answered By Bank Of America In Today's Fairholme Capital Conference Call

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Wed, 08/10/2011 - 12:50 | 1547052 Mr Lennon Hendrix
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The Key Questions To Be Answered By Bank Of America In Today's Conference Call-

When will our stock price be at zero?

Wed, 08/10/2011 - 13:03 | 1547132 bigdumbnugly
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umm, well i haven't checked the ticker in the last few minutes but...

Wed, 08/10/2011 - 13:20 | 1547207 gmrpeabody
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Wed, 08/10/2011 - 13:27 | 1547241 gmrpeabody
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Watching the CNBC talking heads  screaming for JPM's Dimon to run for president after he's moving speech (NOT) today on what's wrong and right with America.

It was enough to choke a maggot.

Thu, 08/11/2011 - 02:08 | 1549944 FIAT_FixItAgainTony
FIAT_FixItAgainTony's picture

i hate maggots that choke, must be the reason my tee vee's been off and unplugged all of this year. 

you are brave for attempting to watch MSM.  i comprehend the need to see the spin offered to the sheeple, but i've found i do quite well completely avoiding it.

thanks tyler and zh'ers for being here.

Wed, 08/10/2011 - 13:16 | 1547186 quintago
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If BOA has to repurchase, guess what, so do the taxpayers because of the liability they absorbed on the WaMu purchase which will undoubtedly be attacked next, along with every other Shady McShadyville lender's loans which were repackaged and sold to idiots.

Wed, 08/10/2011 - 12:48 | 1547056 moneymutt
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Also, can we have our TARP and all the other money FED gave you back, and you go away....

Wed, 08/10/2011 - 12:51 | 1547069 Mr Lennon Hendrix
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You can't have your TARP and eat it too.

Wed, 08/10/2011 - 13:02 | 1547124 Sancho Ponzi
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And what's this about Fannie Mae, the GSE that should have died but is now being subsidized by taxpayers, buying BAC mortgages? You've got to be kidding, right? Whoever made that decision needs to be fired NOW.

Wed, 08/10/2011 - 13:12 | 1547169 Drag Racer
Wed, 08/10/2011 - 13:24 | 1547226 Sancho Ponzi
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You can't just rent houses that have been vacant for years without spending thousands of dollars on repairs and maintenance. Hell, many of those subprime houses should be torn down. This administration is totally freaking clueless.

Wed, 08/10/2011 - 13:41 | 1547250 Mr Lennon Hendrix
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Soon, to go along with foodstamps, there will be rent stamps.

BAC in the USSA!

Wed, 08/10/2011 - 13:45 | 1547318 Rodent Freikorps
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If they were just clueless, wouldn't they -- at least occasionally -- do something that didn't harm the country?

Wed, 08/10/2011 - 13:53 | 1547353 Ricky Bobby
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Makes you wonder - so much easier to destroy then to build.

Wed, 08/10/2011 - 14:30 | 1547486 A Lunatic
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Shovel ready, bitchez.

Wed, 08/10/2011 - 14:34 | 1547501 Rodent Freikorps
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All this news has made me nervous.

So...I went to Ebay and loaded up on some more powdered eggs and tactical bacon.

Other than that kind of stuff, I'm good whichever way things go. If someone could figure out how to do freeze dried Pepsi, they become a billionaire.

Wed, 08/10/2011 - 20:13 | 1549197 StychoKiller
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Ever hear of "Fizzies™?"

Wed, 08/10/2011 - 13:58 | 1547374 karzai_luver
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Many of these sub primes have been bought for next to nothing and are now being flipped so if you are quick and smart it's easy money.


If you want jobs fixing them up or knocking them down is the question.


Well fixing them up provided easy money for more than knocking down so thats what you will get.

Nothing cluelss if you are in the system.


Wed, 08/10/2011 - 14:24 | 1547459 Drag Racer
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McGraw-Hill is the owner of S & P, you know the downgrade guys, and this company, you know the ones with the construction job search network.

Wed, 08/10/2011 - 13:14 | 1547178 Mr Lennon Hendrix
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If we were to start blaming people the list would take up a few pages or so.

Wed, 08/10/2011 - 13:55 | 1547362 karzai_luver
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They bought the service rights is the way i read it.


But yeah fire em all you will get enough someday.



Wed, 08/10/2011 - 13:07 | 1547148 mt paul
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funnie 101

Wed, 08/10/2011 - 13:09 | 1547159 Sudden Debt
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Wed, 08/10/2011 - 14:39 | 1547526 gangland
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which would you take? pesos or pesetas?


Wed, 08/10/2011 - 12:51 | 1547072 slaughterer
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Mr. Lennon hendrix


to the point! 

Wed, 08/10/2011 - 12:52 | 1547073 Dr. Engali
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How much are you going to sell  Merrill to JP Morgan for?

Wed, 08/10/2011 - 12:52 | 1547076 Ancona
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It's coming at them from all sides now. I think it is just a matter of a few days before we hear about some kind of restructuring or another.

Wed, 08/10/2011 - 12:54 | 1547077 Spitzer
Spitzer's picture

Who cares about the forensics. Anyone (Paulson) that was too dumb to realize that these banks where finished in 08 needs their head examined.

Funny how Maradith Whitney got famous for doing some forensics on Citi, Fanny and freddie, yet Peter Schiff predicted those bankruptcies in 2006.

Wed, 08/10/2011 - 13:18 | 1547195 Alea Iactaest
Alea Iactaest's picture

Being right but getting the timing wrong is still wrong.

Wed, 08/10/2011 - 12:52 | 1547078 ShankyS
ShankyS's picture

How bout the backdoor countrywide bailout we're gonna pay for? 

Wed, 08/10/2011 - 12:52 | 1547080 phungus_mungus
phungus_mungus's picture

Since the BOA, Fannie Mae, Freddie Mac trifecta of realestate timebombs is unspooling. Do you think we'll stop seeing those silly stories about the bottom of the hosuing market, rebounds and green shoots?


Yeah, me neither...  

Wed, 08/10/2011 - 12:53 | 1547082 Jim in MN
Wed, 08/10/2011 - 12:54 | 1547086 heatbarrier
heatbarrier's picture

What about AIG claiming :::cough::cough::: "fraud"?   

...Ah, we can't comment on ongoing litigation.  (thinking "speeding ticked at the Indy500")


Wed, 08/10/2011 - 12:54 | 1547088 Misean
Misean's picture

Here's the menu. Remember, this is your last meal, make it a good one.

Wed, 08/10/2011 - 12:55 | 1547091 Long-John-Silver
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I know what will be said.


We are Lehman Brothers. We are dead.

Wed, 08/10/2011 - 12:55 | 1547093 Eally Ucked
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What is notional value of SIV, what is market price for it if any?

Wed, 08/10/2011 - 12:57 | 1547099 Misean
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The value is whatever we say it is, so sayeth FASB, so shall it be. How dare you question the gods!

Wed, 08/10/2011 - 12:56 | 1547095 citta vritti
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what about REMIC status for RMBSes where loan docs. weren’t sent to the trustee on time?

Wed, 08/10/2011 - 12:59 | 1547112 Misean
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The REALLY big boys who bought these things are figuring out what to do. Once they move, the IRS will swoop in and maul a few medium sized investors for taxes, and collapse the mess.

Wed, 08/10/2011 - 12:58 | 1547103 firstdivision
firstdivision's picture

Is this a glimpse of what will be occurring at Paulson & Co after the BAC call?

Wed, 08/10/2011 - 13:54 | 1547356 Bob
Bob's picture

Like a glass of fresh glacial water!  Thanks, I needed that. 

Wed, 08/10/2011 - 12:58 | 1547104 Greater Fool
Greater Fool's picture

Some interesting non-questions there. They clearly convey the idea that BAC is only a few denied motions away from bankruptcy. 

Wed, 08/10/2011 - 12:58 | 1547107 pan
pan's picture

Counterparty risk = anti-money....bitchez!

Wed, 08/10/2011 - 12:58 | 1547108 Seasmoke
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1. What really happened between Ken Lewis and Hank Paulson ?

2. Why did you not include who the real investor of the mortgage loan was (and where the money came from) at origination ?

3. Why have you used robosigning MERS (and others) to break all rules of property laws in the chain of assignments by using fraudulent signatures

4. What is the Mark to Market on your HELOCS ?

5. Why would anyone ever pay a mortgage that is serviced (not owned) by Bank of America ?

Wed, 08/10/2011 - 13:23 | 1547223 franzpick
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6. How many residential and other properties are in default, what % are still being used by "stay-ins", and what % of the total have not been auctioned or sold?

Wed, 08/10/2011 - 12:59 | 1547113 economessed
economessed's picture

Looking back 80 years or so, we had the Bank of the United States blow-up.  Today it's Bank of America.  That rhyming sound you're hearing is history delivering the same lesson to those who are doomed to repeat it.

Wed, 08/10/2011 - 13:10 | 1547160 fyrebird
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Wed, 08/10/2011 - 12:59 | 1547114 Winosawrus
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Is that the sound of a run on your bank in the background??

Wed, 08/10/2011 - 13:02 | 1547116 Camtender
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Did Ken Lewis ever admit that Paulson had a gun to his head over Countrywide? I thought there was a video of this on youtube................

Wed, 08/10/2011 - 13:00 | 1547117 Victor Berry
Victor Berry's picture

Do you think Angelo Mozilo, John Thain, Stan O'Neal, Ken Lewis, et al, are all kicking back in their 24-kt gold lounge chairs enjoying the BAC shit storm show?  I'm sure their personal chefs and butlers are busy bringing them the finest popcorn money can buy!

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