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Suck It Up Warren - Moody's Downgrades Bank Of America From A2 To Baa1

Tyler Durden's picture





 

Time for another bath. This time metaphorical. And based on Moody's downgrade methodology, a Citi downgrade is imminent.

New York, September 21, 2011 -- Moody's Investors Service has downgraded the ratings of Bank of America Corporation's (BAC) holding company to Baa1 from A2 for long-term senior debt and to Prime-2 from Prime-1 for short-term debt. The long-term deposit ratings of Bank of America N.A.
(BANA) were downgraded to A2 from Aa3, while BANA's short-term rating was affirmed at Prime-1. The actions conclude a review for downgrade announced on June 2, 2011. The outlook on the long-term senior ratings remains negative.
 
The downgrades result from a decrease in the probability that the US government would support the bank, if needed. Moody's believes that the government is likely to continue to provide some level of support to systemically important financial institutions. However, it is also more likely now than during the financial crisis to allow a large bank to fail should it become financially troubled, as the risks of contagion become less acute. Moody's is therefore lowering the amount of support it incorporates into Bank of America's ratings to levels reflected prior to the crisis.
 
The downgrades do not reflect a weakening of the intrinsic credit quality of BAC. BAC has made significant progress in improving in its capital and liquidity positions, in shedding legacy and noncore assets, in measuring and monitoring risk, and in managing its risk appetite. These improvements have not, however, resulted in an upgrade of its stand-alone financial strength rating or in an offset to the declining assumption of systemic support in the long-term ratings. This is due in large part to the risks that continue to be presented by the bank's exposures in its mortgage business.
 
The ratings affected are as follows:
 
Bank of America Corporation (BAC), Merrill Lynch & Co., Inc., and all rated debt guaranteed or assumed by BAC or Merrill Lynch (including the rated debt of Countrywide Financial Corporation): Moody's downgraded the long-term senior debt rating to Baa1 from A2 and the short-term rating to
Prime-2 from Prime-1. The holding company senior debt ratings now incorporate two notches of uplift due to systemic support, down from four notches previously. BAC's senior subordinated debt rating was downgraded to Baa2 from A3, and its cumulative junior subordinated-backed trust preferred securities were lowered to Ba1 (hyb) from Baa3 (hyb),
 
Bank of America, N.A. (BANA): Moody's downgraded the long-term bank deposit and senior bank debt ratings to A2 from Aa3 and the short-term
Prime-1 rating was affirmed. The bank financial strength rating (BFSR) of
C- was also affirmed, and the bank's corresponding baseline credit assessment (BCA), or unsupported rating, remains unchanged at Baa2. The outlook on the BFSR is stable. The bank deposit and senior debt ratings now incorporate three notches of uplift due to systemic support, down from five notches previously. BANA's subordinated debt was downgraded to
A3 from A1.
 
Please see the link for a full list of rating actions.
 
Moody's will publish separate press releases on other institutions covered by the review announced on June 2, 2011.
 
RATINGS RATIONALE
 
Moody's continues to see the probability of support for highly interconnected, systemically important institutions as very high, although that probability is lower than it was during the financial crisis. During the crisis, the risk of contagion to the US and global financial system from a major bank failure was viewed as too great to allow such a failure to occur -- a view borne out in the aftermath of the Lehman failure. This led the government to extend an unusual level of support to weakened financial institutions and Moody's to incorporate the expectations of such support in its ratings. Now, having moved beyond the depths of the crisis, Moody's believes there is an increased possibility that the government might allow a large financial institution to fail, taking the view that contagion could be limited.
 
Moody's decision to assign a negative rating outlook reflects the possibility it may further reduce its systemic support assumptions in the future as a consequence of the process set in motion by the enactment of the Dodd-Frank Act. Under the rules recently finalized by the FDIC, the orderly liquidation authority included in Dodd-Frank demonstrates a clear intent to impose losses on bondholders in the event that a systemically important bank such as BAC was nearing failure. If fully implemented, the provisions of Dodd-Frank could further lower systemic risk by reducing interconnectedness among large institutions and could further strengthen regulators' abilities to resolve such firms.
 
However, the final form of several critical components of Dodd-Frank intended to reduce such interconnectedness, such as resolution plans or changes to the over-the-counter derivatives market, are still pending.
There is also no global process yet in place whereby regulators could resolve a global financial company such as Bank of America in an orderly fashion. As a result, Moody's believes that it would be very difficult for the US government to utilize the orderly liquidation authority to resolve a systemically important bank without a disruption of the marketplace and the broader economy.
 
The affirmation with a stable outlook of the stand-alone bank financial strength rating at C-, which continues to map to a baseline credit assessment of Baa2, reflects the challenges posed by the significant contingent risks BAC continues to face in its mortgage business. BAC has made significant improvements to its capital and liquidity positions, continues to focus on shedding legacy and noncore assets, has improved its ability to measure and monitor risk, and has adopted a lower risk appetite. Nonetheless, the bank remains exposed to potentially significant risks related to both the residential mortgage and home equity loans on its balance sheet, as well as to mortgages previously sold to investors.
 
Moody's believes BAC has ample resources to absorb the additional losses it is likely to experience on these exposures. However, if the economic environment were to deteriorate and the bank were to receive adverse legal rulings on the claims pending against it related to its mortgage business, it could have a significant impact on BAC's capital position.
Moody's also believes the variability around potential negative outcomes is substantial, and their resolution is not entirely within the direct control of management.
 
The resulting uncertainty is a constraining factor on BAC's baseline credit assessment, especially in light of the bank's still relatively modest capital position compared to its major peers.
 
The ratings for BAC's cumulative junior subordinated-backed trust preferred securities were lowered by one notch to Ba1 (hyb) from Baa3 (hyb), reflecting a reduction in the rating agency's support assumption for those securities. Those ratings are now consistent with Moody's guidelines for rating bank hybrid securities whereas previously they had included an additional notch of uplift for systemic support. The ratings for BAC's noncumulative preferred stock and the HITS issued by BAC Capital Trust XIII and BAC Capital Trust XIV, which do not incorporate any government support, were confirmed at Ba3 (hyb). (The HITS, or Hybrid Income Trust Securities ultimately have a non-cumulative preferred stock claim on BAC under the terms of a forward contract.)
 
The methodologies used in this rating were "Bank Financial Strength Ratings: Global Methodology" published in February 2007, "Incorporation of Joint-Default Analysis into Moody's Bank Ratings: A Refined Methodology" published in March 2007, and "Moody's Guidelines for Rating Bank Hybrid Securities and Subordinated Debt" published in November 2009.

 


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Wed, 09/21/2011 - 12:33 | Link to Comment BrocilyBeef
BrocilyBeef's picture

might want to turn this article into a template.

Wed, 09/21/2011 - 12:35 | Link to Comment SGS
SGS's picture

Morgan Stanley is next!

Wed, 09/21/2011 - 12:38 | Link to Comment Irish66
Irish66's picture

GS

Wed, 09/21/2011 - 12:41 | Link to Comment nope-1004
nope-1004's picture

 

more likely now than during the financial crisis to allow a large bank to fail

Was I asleep for 4 years or something?  When did the financial crisis end?

 

Wed, 09/21/2011 - 12:44 | Link to Comment BrocilyBeef
BrocilyBeef's picture

*intermission* Dah-du-dah! popcorn++

Wed, 09/21/2011 - 12:49 | Link to Comment Careless Whisper
Careless Whisper's picture

what's the over/under for a new 52 week low for JPM today?

 

Wed, 09/21/2011 - 12:56 | Link to Comment fuu
fuu's picture

That would be awesome.

Wed, 09/21/2011 - 12:57 | Link to Comment BrocilyBeef
BrocilyBeef's picture

Ohh about...

over under a magical feat often depicted in pornos where a both a female's vag and poop shoot are pounded simultaneously

also known as: double penetration; one in the fridge, one in the freezer; mr. jones, mr. anderson; double stuffed; and ball banging (bc the dudes balls often touch) when we proposed the over under to gina, she smiled, dropped her draws, and said "lets get ballz deep". http://www.urbandictionary.com/define.php?term=over%20under

Wed, 09/21/2011 - 12:58 | Link to Comment SGS
SGS's picture

BOA - "We disagree with Moodys"

 

No shit captain fucking obvious.

Wed, 09/21/2011 - 12:45 | Link to Comment spiral_eyes
Wed, 09/21/2011 - 12:52 | Link to Comment Shocker
Shocker's picture

Yes the financial Crisis ended in 2009, this is old news :) heheheeh

Wed, 09/21/2011 - 12:47 | Link to Comment Irish66
Irish66's picture

break 100?

Wed, 09/21/2011 - 12:56 | Link to Comment scatterbrains
scatterbrains's picture

MF mofo's

Wed, 09/21/2011 - 12:39 | Link to Comment Coldfire
Coldfire's picture

One zombie at a time. Has-been Moron Stanley's time will come, sure enough.

Wed, 09/21/2011 - 12:40 | Link to Comment BrocilyBeef
BrocilyBeef's picture

You can also lose in musical chairs when your seat blows up. Money velocity, bitchez.

A lot of history needs to be written. A lot of plot threads need to come together. Finish the movie!

Wed, 09/21/2011 - 13:28 | Link to Comment Don Birnam
Don Birnam's picture

"Aw, dammit -- where's Becky's rubber ducky ?! Darn it all. And she even autographed it in indelible marker. Where's that manservant of mine who pays a higher marginal rate than I do...Jeeves ! Fetch me a Cherry Coke ! Time for some crisis thinking."

http://www.mogulite.com/wp-content/uploads/2011/08/Warren-Buffett-Bath.jpg

 

Wed, 09/21/2011 - 13:28 | Link to Comment Tater Salad
Tater Salad's picture

Bend over Oracle of Obama, this is going to hurt you more than me...!

Wed, 09/21/2011 - 14:01 | Link to Comment Todd Horlbeck
Todd Horlbeck's picture

Warren Buffett's logic is that BAC is backstoped by the US government. This does not mean the stock can't be valued at 0, it can.  Remember, Buffett has preferred stock that has been treated more favorably at times. Remeber certain Citigroup preferreds?

I wouldn't write off his investment so quickly, but that does not mean the common stock holder can't be wiped out. (And I think they will be crushed).

The most striking thing about this is that the only way for BAC to get out of this mess is to lend their way out.  All I have seen them do is cut their capacity to lend.

If you have 5% in bad loans, the fastest way to fix it is to double the amount you lend.  That 5% becomes 2.5%.  BAC is in big trouble if they won't/can't lend.

 

Wed, 09/21/2011 - 12:33 | Link to Comment Irish66
Irish66's picture

should be at 5

Wed, 09/21/2011 - 12:33 | Link to Comment ZeroPower
ZeroPower's picture

Warren's $$ taken to the washers

Wed, 09/21/2011 - 12:59 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

+1

Wed, 09/21/2011 - 12:45 | Link to Comment Mercury
Mercury's picture

I don't think Buffett's looking to flip these things...He's still getting 6% and a par cash-out +5% additional if BAC wants to pull the plug?

His warrents are out-of-the-money but he's still doing OK here.

Wed, 09/21/2011 - 12:45 | Link to Comment JSD
JSD's picture

Warren is "...doing OK here." regardless of what BAC (Bank of Atlantic City) does. However, I'm less convicnced of that fact being the point. 

Wed, 09/21/2011 - 12:53 | Link to Comment Mercury
Mercury's picture

Hey, just because Obama took his campaign contribution out in trade from the old man (PR mostly) doesn't mean that shit doesn't talk like real money.  I doubt BRK takes a bath on this even if BAC really goes under.

Wed, 09/21/2011 - 13:02 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The illuminatti does not think in dollar amounts, they think in terms of their power to continue the status quo.

Wed, 09/21/2011 - 12:36 | Link to Comment FunkyMonkeyBoy
FunkyMonkeyBoy's picture

I'd love to see that old cretin die broke... but that's just me.

Wed, 09/21/2011 - 12:40 | Link to Comment Belarus
Belarus's picture

Were it not for his buddies in Govt. and the Fed, he would be broke already. It' no wonder he sucks Ben's dick every time he orally, ergo, speaks of him. He has become one of the greatest American Baffoons only interested in preserving his self-serving and fragile ego at all costs.  

Wed, 09/21/2011 - 12:43 | Link to Comment I Got Worms
I Got Worms's picture

Once that old bastard craps his adult diapers for the last time, the USA will be better off.

Wed, 09/21/2011 - 12:44 | Link to Comment BungaBunga
BungaBunga's picture

Maybe Warren knew all along the special tax for millionaires would not apply to himself.

Wed, 09/21/2011 - 12:59 | Link to Comment NotApplicable
NotApplicable's picture

Well, of course. It is an income tax, after all. Uncle Warren only earns $100k per year in income.

Wed, 09/21/2011 - 13:34 | Link to Comment mirac
mirac's picture

Didn't Warren and Bill Gates put 30 billion each into a trust together a couple of years ago...that was the tax dodge

Wed, 09/21/2011 - 12:44 | Link to Comment Clueless Economist
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Warren is the poster boy of Crony Capitalism

Wed, 09/21/2011 - 12:50 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

This will probably be the only time in my life I will think of Buffett and smile...

Wed, 09/21/2011 - 12:46 | Link to Comment JSD
JSD's picture

Why so serious?

Wed, 09/21/2011 - 13:41 | Link to Comment skree
skree's picture

These old rich bastards never die.

Wed, 09/21/2011 - 15:22 | Link to Comment Incubus
Incubus's picture

You can't die broke once you've reached a certain level of recognition.

 

FFS, the guy could go on tv shows and only tv shows and still earn more than you or I. He could bag his shit and sell it for 2,000 dollars a bag, and someone in the world would buy it.

Wed, 09/21/2011 - 12:36 | Link to Comment heywood jablowme
heywood jablowme's picture

Time for a major collateral call.

Wed, 09/21/2011 - 12:36 | Link to Comment jdelano
jdelano's picture

I see the Tylers have recently discovered espresso.  Or meth.  

Wed, 09/21/2011 - 12:43 | Link to Comment BrocilyBeef
BrocilyBeef's picture

Espresso meth? Sounds expensive.

Wed, 09/21/2011 - 12:37 | Link to Comment dwdollar
dwdollar's picture

Last minute fear mongering...

Wed, 09/21/2011 - 12:39 | Link to Comment Spitzer
Spitzer's picture

FAZ just got a boner

Wed, 09/21/2011 - 12:36 | Link to Comment Coldfire
Coldfire's picture

Bury this foetid fucker, already. It's stinking up the joint somethin' fierce.

Wed, 09/21/2011 - 12:37 | Link to Comment doomandbloom
doomandbloom's picture

out of bathtub....into the toilet

Wed, 09/21/2011 - 12:38 | Link to Comment Volaille de Bresse
Volaille de Bresse's picture

Shhhhhhhhhhh... don't tell Reggie Middleton! ;-)

Wed, 09/21/2011 - 12:38 | Link to Comment GittyUP
GittyUP's picture

Isnt buffet getting a redic coupon payment on his preferred shares?  I think he is still smiling from ear to ear regardless of share price. 

Wed, 09/21/2011 - 12:38 | Link to Comment Dick Darlington
Dick Darlington's picture

systemically important financial institutions

Lord i hate that phrase! Why don't these idiots call them what they are. A cancer in the body of society.

Wed, 09/21/2011 - 12:42 | Link to Comment BrocilyBeef
BrocilyBeef's picture

save the patient?

Wed, 09/21/2011 - 12:38 | Link to Comment TradingJoe
TradingJoe's picture

To(a)st itos anyone?!?!?

PS Warren is not even close in trouble, he's got the Midas(Gov) Touch!

Wed, 09/21/2011 - 12:38 | Link to Comment depression
depression's picture

ridiculous rationale

BOA will be defended

Wed, 09/21/2011 - 12:40 | Link to Comment dwdollar
dwdollar's picture

Yep. I'll believe otherwise when pigs fly.

Wed, 09/21/2011 - 12:40 | Link to Comment Josh Randall
Josh Randall's picture

Lets see - Warren involved in both Goldman Squid and BAC, lets run the table on this guy and have him go down with both ships. This guy is either a completely crooked Financial Gangster or he truly is about to dive on a Grenade for the US and take both down with imploding derivative bombs, gut wrenching losses on foreclosures, and an avalanche of subprimes and robo signing lawsuits.

Regardless he won't make it out alive financially if he keeps his ties with these two

Wed, 09/21/2011 - 12:40 | Link to Comment Ruffcut
Ruffcut's picture

Waiting for that 6.81 support to pop. Thought something was up.

What a lingering bag of shit.

Wed, 09/21/2011 - 12:47 | Link to Comment junkyardjack
junkyardjack's picture

Just in time for the QE save?

Wed, 09/21/2011 - 12:40 | Link to Comment SwingForce
SwingForce's picture

Run those stops, shake that tree. Do the TARP warrants still trade?

Wed, 09/21/2011 - 12:43 | Link to Comment captcorona
captcorona's picture

Can you say, "JP Morgan Chase Bear Sterns Washinton Mutual Bank of America"?... I bet the Predator of Last Resort gets the Good Parts for pennies.

Wed, 09/21/2011 - 12:43 | Link to Comment SwingForce
SwingForce's picture

What good parts are there?

 

Wed, 09/21/2011 - 12:43 | Link to Comment SofaPapa
SofaPapa's picture

Owning 10% of a ratings agency doesn't buy Buffett a better rating on his recent investment?  Or it's part of the plan? Interesting twist.

Wed, 09/21/2011 - 12:44 | Link to Comment junkyardjack
junkyardjack's picture

These rating agency terrorist need to be stopped.  Where is Congress? What is the SEC going to do about them?  How can we maintain a ponzi society if they are going to come dipping their balls in our punch bowl every 5 minutes?  I'm sure there's some space in gitmo for them

Wed, 09/21/2011 - 12:45 | Link to Comment BrocilyBeef
BrocilyBeef's picture

ignore the noise. the game of "catch-up" is still a game.

Wed, 09/21/2011 - 12:52 | Link to Comment wang (not verified)
Wed, 09/21/2011 - 12:45 | Link to Comment dwdollar
dwdollar's picture

Warren doubling down at $6.66

Wed, 09/21/2011 - 12:47 | Link to Comment moonman
moonman's picture

So Moodys is saying the gov't (whose debt they downgraded) won't come to the rescue?

 

Wed, 09/21/2011 - 12:47 | Link to Comment RobotTrader
RobotTrader's picture

 

 

Warren will need another hand job from "Bathtub Becky" in order to soothe his spirits after such a devastating loss.

Wed, 09/21/2011 - 12:49 | Link to Comment oogs66
oogs66's picture

I think the prime2 is big. I bet that hits some eligibility requirements for money markets

Wed, 09/21/2011 - 12:49 | Link to Comment RobotTrader
RobotTrader's picture

 

 

I wonder if the action in XLF can construed as "price stability"??

LOL....

Wed, 09/21/2011 - 12:51 | Link to Comment monopoly
monopoly's picture

Good one Robot. I want you to know I rarely agree with your posts but I always enjoy them. +1

Wed, 09/21/2011 - 12:55 | Link to Comment Careless Whisper
Careless Whisper's picture

AAPL = OMG

NFLX = WTF

Wed, 09/21/2011 - 12:57 | Link to Comment jdelano
jdelano's picture

-1

Please don't feed the monkeys.

Wed, 09/21/2011 - 12:51 | Link to Comment CitizenPete
CitizenPete's picture

Its an investment grade that the CNBC financial sheep are used to singing:  "Baa"

 

No place to go but up....  as in "throw"

 

How are we feeling?  

"Better",  "Better get a bucket."

Wed, 09/21/2011 - 12:49 | Link to Comment Village Smithy
Village Smithy's picture

When smart people do dumb things.

Wed, 09/21/2011 - 12:50 | Link to Comment SparkySC
SparkySC's picture

Who will be the next theft of a company gifted to the Pierpont bunch?

 

 

Wed, 09/21/2011 - 12:50 | Link to Comment monopoly
monopoly's picture

This has got to stop. I am calling Warren! Hmmmphh.

Wed, 09/21/2011 - 13:01 | Link to Comment BrocilyBeef
BrocilyBeef's picture

Rats, he's still in the bath.

Wed, 09/21/2011 - 12:52 | Link to Comment monopoly
monopoly's picture

And there goes FAZ.. 0

Wed, 09/21/2011 - 13:01 | Link to Comment Theta_Burn
Theta_Burn's picture

Indeed

Wed, 09/21/2011 - 12:52 | Link to Comment dick cheneys ghost
dick cheneys ghost's picture

 

Citi sends out 346 million credit cards offers in 3rd quarter..........WOW

 

http://www.huffingtonpost.com/2011/09/21/citigroup-mails-credit-card-offers_n_973547.html

Wed, 09/21/2011 - 13:13 | Link to Comment Moe Howard
Moe Howard's picture

I have one right here.... no interest for 21 months... then a "one size fits all" rate for advances, purchases, whatever. 

The rate? 16.99% vareable APR! 

 

BWWWWWWWWWWWAHHHHHHHHHHHHHHHAAAAAAAAAAAAAAAAAAAAAAAAA

 

Maybe I'll purchase $25K of Au with it. I am giving it some thought.

Wed, 09/21/2011 - 12:52 | Link to Comment HedgeFun
HedgeFun's picture

Warren is investing for the LOOOooooong term.

Wed, 09/21/2011 - 12:52 | Link to Comment Technowolf
Technowolf's picture

Tax(i) for Warren

Wed, 09/21/2011 - 12:53 | Link to Comment Larry Darrell
Larry Darrell's picture

Tyler(s)

If you can make the time, could we get the list of the current biggest position holders, aka "Biggest Losers" for this action??

Those lists are some of my favorites.

Wed, 09/21/2011 - 12:55 | Link to Comment equity_momo
equity_momo's picture

Charlie and Warren , Randolph and Mortimer , the market sayeth to you :

SUCK THAT MOTHER FUCKER UP BITCHEZ!

Wed, 09/21/2011 - 12:55 | Link to Comment caerus
caerus's picture

wfc too

Wed, 09/21/2011 - 13:00 | Link to Comment ShowMeTheTime
ShowMeTheTime's picture

However, it is also more likely now than during the financial crisis to allow a large bank to fail should it become financially troubled, as the risks of contagion become less acute.

 

WTF???  Somebody knows something somewhere....WOW!

Wed, 09/21/2011 - 13:04 | Link to Comment LeonardoFibonacci
LeonardoFibonacci's picture

Basically junk stock quality. Just another day for FOMC = Fucking Over the Middle Class

Wed, 09/21/2011 - 13:08 | Link to Comment Die Weiße Rose
Die Weiße Rose's picture

Warren is a fucking Dickhead -

the FED has rates at zero for years and these bovins still throw good money after bad.

Even a blind fool would be better at making money from other peoples money.

Stick a million in a bank account in Australia and you get 6% per year in your sleep at no risk.

that is 60,000 a year, which is money for nothing !

Warren, that senile old fool prefers to lose other peoples money including his own...

Wed, 09/21/2011 - 13:11 | Link to Comment Trimmed Hedge
Trimmed Hedge's picture

.

.

SUCK IT UP!

SUCK IT UP!

SUCK IT UP!

Wed, 09/21/2011 - 13:11 | Link to Comment NuYawkFrankie
NuYawkFrankie's picture

Wow! The bent-over Orifice of Omaha getting a real work-out!   Ouch!!!

Wed, 09/21/2011 - 13:15 | Link to Comment Logans_Run
Logans_Run's picture

However, it is also more likely now than during the financial crisis to allow a large bank to fail should it become financially troubled, as the risks of contagion become less acute.

I would like to know what Moody's considers "financially troubled."

 

Wed, 09/21/2011 - 13:16 | Link to Comment RSloane
RSloane's picture

Let it bleed, let it go. It should have died four years ago.

Wed, 09/21/2011 - 13:23 | Link to Comment azzhatter
azzhatter's picture

Looks like Warren got a golden shower this time instead of a bath

Wed, 09/21/2011 - 13:34 | Link to Comment Seasmoke
Seasmoke's picture

BAC should be downgraded to BaC

Wed, 09/21/2011 - 15:20 | Link to Comment manodedios
manodedios's picture

sugar coding at its best. they don't come out and say, hey look, bac's fucked, stay away. just saying they're troubled waters, but safe to be consumed....

...feel so safe, i think i'm going to put in the order...

Wed, 09/21/2011 - 16:26 | Link to Comment Nobody For President
Nobody For President's picture

I tuned in to BAC just in time to see it hit 6.66.

 

Perfect!

It is now under 6.60 and falling...

Wed, 09/21/2011 - 16:19 | Link to Comment Sheriff Douchen...
Sheriff Douchenik from AZ's picture

Devin Sharma will get the last laugh on Warren Buffoon yet!

Do NOT follow this link or you will be banned from the site!