Posted on 07/18/2011 10:05:20 AM PDT by SeekAndFind
Bank Of America Is Tanking Again, As Firm May Need $50 Billion In Fresh Capital Katya Wachtel | Jul. 18, 2011, 11:53 AM | 1,700 | 16 A A A x Email ArticleFrom To Email Sent!You have successfully emailed the post. inShare.5
It's been an ugly few months for Bank of America.
The stock has been dropping steadily through 2011, with July particularly bad. It nosedived this morning on news that the bank may "may have to build its capital cushion by $50 billion... as mortgage losses drain funds," Bloomberg reported.
The stock is hovering around $9.60 right now.
That means that CEO Brian Moynihan’s promise to increase dividends will probably also be withdrawn, causing more discontent among shareholders who are already being warned to prepare for some ugly writedowns when BofA reports Q2 earnings tomorrow.
That $8.5 billion settlement with investors in June wasn't the only mortage-related bad news from last quarter.
(Excerpt) Read more at businessinsider.com ...
Let me know when i can get a govt loan to buy them up for 10 cents on the dollar.
Let’s see. ...The bailout and stimulus saved what?
Aw hell, take $100 billion - ya might need some extra “just because”!
Easy come, easy go.../s
Now is the chance for some of those Warshington revenue types to donate their money for their government expansion vision and help BofA.
Maybe they should petition their MEXICAN and other Latino friends. That seem to be who they cater to since most signs in their lobby are in Spanish.
How are all those loans and deposits from your illegal friends working for you BofA?
Don’t let the door hit you in the A on the way out of business... I hope that is the way BofA goes.
That’s what you get for stituting yourself as the bank of choice for illegal aliens. FOAD, BOA.
That’s what you get for prostituting yourself as the bank of choice for illegal aliens. FOAD, BOA.
Let them go,as They are part of the Problem!
Let me know when i can get a govt loan to buy them up for 10 cents on the dollar.
///
the line forms behind Soros, Goldman-Sachs, and others...
the government never should have bailed out anything.
it simply delayed the inevitable,
and places more debt on our children.
making our children indentured servants,
is against everything our Founding Fathers stood for,
and fought for...
“Let me know when i can get a govt loan to buy them up for 10 cents on the dollar.
///
the line forms behind Soros, Goldman-Sachs, and others...
the government never should have bailed out anything.
it simply delayed the inevitable,
and places more debt on our children.
making our children indentured servants,
is against everything our Founding Fathers stood for,
and fought for...”
in the free enterprise system,nothing can be artificially supported,it either works or does NOT and fails kind of like how mother nature works.
BOA needs to go after the no SS credit cards,the foreclosure scams and such.
Couldn’t happen to a more deserving bank, although Chase is a reasonable contestant for sewer divers.
How incompetent can these bozos get? If you own a bank, you pretty much have a license to print money, and yet these morons keep finding ways to screw it up.
TOUGH COOKIES BoA!! You wanted to make loans to Mexican illegals and then, SURPRISE! They all used phony ids and now you’re stuck with the tab. Boo hoo. So now what, the taxpayers are supposed to bail you out? Forget it!
As a former BOA customer.. I hope they crash and burn..
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