Bank of America...

NEW -> Contingent Buyer Assistance Program
That's possible. That they are making that attempt is obvious now, and they bought some insurance on the reaction by having BAC reporting early. But at some point they are going to hit a snag, or someone with authority is going to stand up and say "enough", or some insider is going to leak some really nasty accounting records... at some point this is going to escape their control. I don't plan on being caught waiting at the door. Would you?
 
And this is why I've been barking about DOW going to 5-6K perhaps even 4K...our govt is corrupt, who is hiding an issue far worse. Like you said oscar...it will come to light....one day.

Either that or we remain at 8K for a decade....which is almost the same thing when you throw in inflation.
 
down another 3% today trading at $8 (7:45am)



listening to people on this board and peter schiff last night on kudlow (who was vastly opposed to buying bofa), i'm going to monitor the stock
 
Down to 7.76 (7:49am)



I honestly hope they go to 0 and that this another ridicilous 20B fails on them, Citi as well.

It's funny CNBC and others always scream how come banks aren't loaning money they received from the government...It's cause they can't...cause they don't have it. BofA just blew threw 25B received before from the govt in a matter of a couple of months. How long will this 20B last? Another month or two? Banks aren't loaning because toxic assets are disintegrating your money...



For the love of god let the sytem collapse so we can restructure. To me corruption can also be defined as someone receiving an unfair advantage in a system that is supposed to be a "free market". Maybe the American people will wake up one day and realize this and figure the only way to have a decent life is to participate in corruption, or not be part of it and suffer. Which reminds me...there is a poster somewhere on this...I'll find it.



Sorry just in a bad mood. I'm tired of these bailouts and America turning into socialism and probably eventually to communism...this is more aggrevating than Racheal Ray.



.

.

Ahh...here it is. I'll even fund my own mob, just tell me where to sign up. Gorbachev and Putin will be so proud of me.



http://images.despair.com/products/demotivators/corruption.jpg
 
If BAC Closes under $ 6.00 today.

It will lose another 17 percent in market cap in a day.

Shareholders are just getting drilled.

This is like watching Countrywide all over again.
 
<a href="http://www.cnbc.com/id/28745445">Bank of America could cut an additional 4000 jobs....</a>



<em>By: CNBC.com | 20 Jan 2009 | 04:22 AM ET

Text Size



Bank of America may slash as much as 4,000 jobs in its capital markets units starting this week, the Financial Times reported on its Web site quoting executives familiar with the matter.</em>
 
Yep! I've always told people that if you survive the first layoff, start looking right away. The second, third, forth, layoff might just be around the corner.



It looks no-bueno for BofA



-bix
 
Serves BoA right. I hope they fold. I just cashed out a Countrywide CD last week. First of all, they wanted to charge me like $25 to do a wire transfer. So I told them to send me a check. So I finally receive the paper check, bring it to my local BoA, and deposit it. So I go to look for my funds and it turns out they put a 14-day hold on 95% of the balance! Bastards! That's MY money! And it's all an exchange between the same damn company!



I opened up an ING checking account and am beginning the arduous task of converting my direct deposit and e-bill pay items. What a pain. But I refuse to continue to enrich Ken Lewis' pockets!
 
Make that $5.32 and falling @ 12:35PM

Citi under $3.00. Ouch.

I wonder how those Sheiks that own Billions in Citi stock are feeling ?
 
[quote author="bltserv" date=1232512764]Citi under $3.00. Ouch.

I wonder how those Sheiks that own Billions in Citi stock are feeling ?</blockquote>
Probably the same way I did when gas was $4.00 a gallon.
 
[quote author="irvinesinglemom" date=1232512334]Serves BoA right. I hope they fold. I just cashed out a Countrywide CD last week. First of all, they wanted to charge me like $25 to do a wire transfer. So I told them to send me a check. So I finally receive the paper check, bring it to my local BoA, and deposit it. So I go to look for my funds and it turns out they put a 14-day hold on 95% of the balance! Bastards! That's MY money! And it's all an exchange between the same damn company!



I opened up an ING checking account and am beginning the arduous task of converting my direct deposit and e-bill pay items. What a pain. But I refuse to continue to enrich Ken Lewis' pockets!</blockquote>




Join a local credit union. Instead of profits and huge salaries, they use the money to keep costs low.



I'm very happy with the no cost and good service of OCTFCU, but there are other good ones.
 
I've had a account with Kinecta Federal Credit Union (formally Huges) for over 20 years. I'm really happy with them. I love that I have a name and direct line to someone I can call about my account. Last time I check, their financial statements, they were pretty solvent.
 
[quote author="lendingmaestro" date=1232521248]credit unions aren't banks, which is why many of them are probably much safer in this environment.</blockquote>
Do you, or anyone else, know where I can find financial information on specific credit unions? I know they have different reporting rules and requirements, but all I find is vague profit/loss statements without any real detail.
 
Your best bet: <a href="http://www.bankrate.com/brm/safesound/ss_home.asp ">Bankrate</a>

Not exactly what you are looking for but it will let you know how solvent your bank or credit union is.
 
[quote author="Oscar" date=1232594307][quote author="lendingmaestro" date=1232521248]credit unions aren't banks, which is why many of them are probably much safer in this environment.</blockquote>
Do you, or anyone else, know where I can find financial information on specific credit unions? I know they have different reporting rules and requirements, but all I find is vague profit/loss statements without any real detail.</blockquote>


Try their <a href="http://www.ncua.gov">regulator</a>. Go to the "Data and Services" section of the site.
 
It is my personal opinion that BofA won't make it.



However, it's also my personal opinion that most of the big banks won't make it past 2010. JPM and Wells Fargo have the best chances among the large banks. However, each of them is probably just one stupid/forced/good-idea-at-the-time acquisition away from the same fate as Citi.
 
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