Bank of America needs more than $80 billion in capital: FBR

MarketWatch ^ | 2009-01-20

[GeronL]

how much is more than we could possibly repay?

[Deo volente]

As long as we can make the yearly interest payments on the debt, we can stay solvent. The government can also print enough money if things really get tight. Of course, we could end up like the Weimar Republic or Zimbabwe, and a loaf of bread could cost a million dollars.

But rest assured, Barack will save the day.

/s

[Razz Barry]

From the article.
USA TODAY reported last year about the buying power of immigrant customers, including undocumented workers. Bank of America says nearly half of the nation's Hispanic households have one of its credit cards.

I remember the protests over this and the home loans illegals were getting. The American public will never be told to what extent illegal immigration is to blame for our economic woes.

[GeronL]

and when these bonds or whatever come to maturity and China wants the cash instead of rolling them over? or whatever thats called.

Its going to nget really bad.

[monkeyshine]

If you give me 5 to 1 I’ll bet $100 that Goldman Sachs (where Paulson (TARP Money Man) is headed) attempts to merge with BAC.

[informavoracious]

Then the Chinese start moving into all those foreclosed homes.

[BellStar]

Bank of America Military Bank has the largest number of service peoples accounts of any bank. That is scary as these people are vulnerable to so many foreign hackers in this shaky financial institution.

[ConservativeMind]

Make sure her accounts are under the limit for FDIC and that the accounts are truly FDIC insured.

[BellStar]

Illegal immigration is to blame for our economic woes!

[GeronL]

yep. More Obama voters for sure.

[TigersEye]

Hey, I need a lot less than that to keep going. Just stock my account and I’m ready to start feeding the economy right away.

[dennisw]

Hey, I need a lot less than that to keep going. Just stock my account and I’m ready to start feeding the economy right away.

Same here. Give DenniswBankCorp a "capital infusion" of 20 billion and I'll lend out money and make the peons happy

[9YearLurker]

Why is the bank paying dividends to shareholders when taxpayers are having to pour billions in?

[TigersEye]

I’m bought a lot cheaper than you. $30 million and I’ll apply it liberally directly in the retail sector.

[dennisw]

Meredith Whitney Predicts Banks Need More Capital (BAC, C, JPM, WFC)
	01/09/2009 5:41:17 AM PST · by dennisw · 1 reply · 320+ views 247 wall st ^ | January 7, 2009 | Jon C. Ogg Oppenheimer's star banking analyst Meredith Whitney slammed the banking giants yet again this morning. The difference between today's note and her prior criticisms, is that now she expects that many banks will need to raise additional capital in 2009. She sees additional loss provisions at Bank of America Corp. (NYSE: BAC), Citigroup Inc. (NYSE: C), JPMorgan Chase (NYSE: JPM), Wells Fargo & Co. (NYSE: WFC), and at other banks in her universe. Yep, Meredith Whitney is putting banks back on the stretching rack and into the Iron Maiden. JPMorgan Chase (NYSE: JPM) is the bank which Whitney sees to have...

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[justa-hairyape]

The American public will never be told to what extent illegal immigration is to blame for our economic woes.

They needed the illegals to keep the Ponzi Schemes going. The Ponzi Schemes are called Economic Bubbles by government officials who willingly act to cover up the fraud. It appears that those government officials were executing their duties faithfully, as those duties certainly were not being faithfully executed.

[Tolerance Sucks Rocks]

And guess who's gonna pay?

[randita]

If more large banks fail the FDIC will be out of funds to replenish accounts and it will be wait-in-line time.

Exactly. We were going to transfer some TMM funds out to some CD's, but I'm hesitant now. If the FDIC runs short of funds (I believe it has $35 billion?), banks may not redeem the CD's on time.

[randita]

how much is more than we could possibly repay?

Once the interest on the debt is more than the annual federal budget, we are in deep doodoo. (PS - we're getting there.)

[wmfights]

I can't help but wonder how much of this balance sheet crisis could be avoided by changing the mark to market to a more accurate mark to model accounting of the mbs’s. The only reason to not make that change is there is something else these financial institutions have put money into that can't be fixed derivatives?