Will Start Of Landesbank Mortgage Litigation Against Bank Of America Push Stock To New 52 Week Lows?

Tyler Durden's picture

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iDealMeat's picture

(back)door stop for the Fed to bail out Greece..

 

Actually I should say.  BAC(door) stop for the FED to bail out Greece...

 

Pladizow's picture

They'll drop under $5, institutions will be forced to sell, they'll do a reverse split like Citi and then linger like a lepper for years, being kept alive by an introvenus of tax payer sweat!

fuu's picture

Share price under debit card fee. Nice.

Jonas Parker's picture

For each ATM transaction the customer gets a free share of stock!

We don' need no steenkin' toasters!

aimeesevey's picture

Poor Geece. I feel sorry about it. More mortgage litigation more povirty and violance.

aimeesevey's picture

Doesn matter anymore wether a bailout or complex mortgage litigation thing!

slewie the pi-rat's picture

BAC = quite an odyssey, eh T_K?

i blogged here abt that norwegian sovereign wealth fund (aka "gooberment pension fund") suit news (sept 8), mentioning that like switzerland, norway is not a formal member of the EU.  was that one of my rants about fraud and justice and how this "civil" stuff might even be harder now that the "justice department" inadvertantly deleted its investigate-the-banksters files after determining that proving criminality would be too difficult, if not impossible.  oops!  ? 

probably, huh?

GeneMarchbanks's picture

'Look for BAC to drop to under $6 once the market realizes the implications of this putback tsunami which has just hit the motherload: central European banks.'

BAC has been a target for takeover since last Spring. Look for them to be acquainted with Tha JP Morgue.

The Fonz...before shark jump's picture

agreed thats Buffets exit

value Investor indeed!

TradingJoe's picture

"Landesbank Baden-Wurttemberg"

State of Baden-Wuerttemberg Bank, nothing but politicians ruling there, was once a very well run institution, they fucked it all up it seems!

Hah, I used to work for these guys! back in the days, oh well, their done now, most of my former collegues are better of, just like me :)))!


 

doomandbloom's picture

"When all is said and done, Bank of America will have no choice but to charge its 6 to 8 remaining clients about one million dollars each time an ATM transaction is executed"

Hilarious ...brilliant stuff tyler!

Comay Mierda's picture

BAC should be $2-$3 range by end of november

SheepDog-One's picture

SICK of hearing about Chanker on America! Implode already ya dirty greasy BITCH!

doomandbloom's picture

They will not let BAC die...

Bank of America is an idea, a symbol of America itself...any failure of that will have huge impact on the psychology of people ( which already is bad enough)

They will chop it into small pieces and sell of most stuff but not let it die.

SheepDog-One's picture

Chanker on America is NOT a Red Dragon elite bloodline bank.

You really think 'the psychology of the sheeple' is what runs things? The 401K/pension Bathrobe Brigade sheeple are being fattened up for the slaughter and that will come real soon.

CClarity's picture

Anyone know where Crystal Grenade Hugh McCall is hanging these days?  Dave Coulter - the idiot that WANTED to buy Countrywide?  Counting their billions somewhere secluded from the implosions they left behind?

Quadlet's picture

Someone's not welcome in the club.  Time to divest ML.

Momauguin Joe's picture

Agree. Expect this mess to be regurgitated some Monday morning as CHASE or Wells Fargo branches. Musical chairs continues for the time being..

youngman's picture

I am glad someone is going after the scam....our government shure is not...hit them where it hurts....their money....

Manthong's picture

What are they all so miffed about?

After all, there are hundreds of billions of precious USD's heading their way to bring their toxic assets up to American standards of toxicity.

spanish inquisition's picture

Are they suiing to get paid in Dollars,Euros or Marks?

MrBinkeyWhat's picture

Or silver...or FMJ rounds

Or Vodka  ;-)

AngryGerman's picture

need money for greece, give it to us!!

SheepDog-One's picture

Yea, well everyone loved being globalists when the pickins were easy and the leverage was to the moon, now that the wheels are coming off theyre whining and crying and saying its all 'un-american' like that shitburger Jammie Dimon yesterday....oh well suck it up boys! You made this shit sandwich, now YOU eat it!

gangland's picture

oh yes the old unamerican card, jingoism from a global conglomerate banker! the last refuge of politicians and scoundrels.

disabledvet's picture

I thought they paid us back? I thought it was only Wells Fargo that was the deadbeat? Perhaps they could begin this suit at the UN where they're still a sovereign. Once we go "all EU all the time" I imagine there are a lo of debts that need repaying.

SheepDog-One's picture

Wells Fargo was sidetracked selling automatic weapons to Mexican drug cartels, read 'Operation Fast n Furious'!

Cult_of_Reason's picture

Daily Telegraph columnist Peter Oborne repeatedly referred to EU Commission Spokesman as an "idiot". (Thank you Peter for honestly expressing what many of us think).

http://www.youtube.com/watch?v=QNq9MOc5CBY

MrBinkeyWhat's picture

Yesterday I saw a female TV head remind me that "Gold is not backed by anything".

What a relief to be told that my FRN's were NOT toilet paper. (flashes his 100T Zim Note for emphasis)

Carry on!

Woodyg's picture

I'll believe that Corporations are People around the same time we accidently put an innocent one to death.

Hell I'd be happy to see a guilty one put to death.

Starting with this POS of a company BAC.

Good riddence to rubbish

Bitchez!

Woodyg's picture

Duplicate for some odd reason

kito's picture

Bank of Anal Cleansing

MrBinkeyWhat's picture

Enemas. Oh and by the way, if you have an individual of advanced age with a "blockage", the only way to "get it out" is manually. One time is enough...believe me.

Sorry...welcome to my world.

Money 4 Nothing's picture

Now their BAC web site is down. What gave?

 Tim Backshall is talking about Zero Hedge on the Bullshit channel CNBC.

Stop manipulating publics view of Morgan Stanley bloggers! God! Your going to tank them!

 

Catch-22's picture

Don't be fooled by the pin striped (law)suits... raising pigs is cleaner than banking.

Mr Drysdale's picture

It just breaks my heart to see MORE bad new about "Blight On America"

NOT-

I refi'd my house from cunt-ry-wide when BAC took over THAT POS, now the mortgage is with a simple, "Farmers and Merchants" bank. strangely enough, I have had no problems with them.

slewie the pi-rat's picture

times change!

most people locally aren't re-financing now due to the public cavity searches

Duffminster's picture

I think the question about whether BAC will sell the rest of its shares in China Construction Bank and what that means given the certain pressure from increasing toxic realestate loans will be under such a circumstance for the China Construction Bank?

I wrote this earlier:"It seems evident to me that China is under the pressure of the same kind of massive real estate bubble problems that crashed the US system. The article linked by below by William Smeed, posted at Seeking Alpha, has this information to reflect upon: "...Chinese lenders expanded credit at a record pace in 2009 and 2010, making more than 17.5 trillion yuan ($2.7 trillion) of new loans as the government moved to offset a collapse in exports during the global recession. The surge in loans exceeded credit expansions in the U.S. before its financial crisis, in Japan before its stock and property bubbles collapsed in 1990 and in South Korea before the Asian financial crisis of the late 1990s, according to Fitch. Source..." The article goes through some hypothetical scenarios. What I am seeing is a perfect storm brewing in the credit and hence derivatives markets, with US Banks, EU Banks and China Banks all looking liquidity issues right in the face coupled with an evolving resistance by the people of Europe and soon the US to the idea of TARP II or bailing out the banks and financial systems on the backs of citizens and tax payers. While Germany may have passed the $400 Billion ESFS/EFSF, EF this acronym, Geithners proposal to have the tax payers of mostly Germany and France backstop a $2 or $3 trillion TARP II type of program for the technically insolvent banks. Even if they did, it would simply kick the can down the road perhaps two more years and frankly, the people in Europe are better educated on average and have more open and free press than we do these days in the United States and I don't think they are going to byte on Bailing out the Too Big To Fail Banks. Anyway, here is the article. Its well written and Smeed does an admirable job in his analysis and data sourcing. I've been a long time reader of many writers on Seeking Alpha: Chinese Banks Are Imitating Washington Mutual

Miles Kendig's picture

Geithner went to Europe and told them to raise capital and lever up.

Looks like they're taking his advice to heart

aimeesevey's picture

He did went to Europe. Mortgage litigation against BOA was a must.