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SocialPicks Community
America ca ca
BAC
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I don't like this bank cause of what it stands for... USA. But i think there is a future for this big one and I think there is profit to be made. Dividend is low, unfortunately, but in one year the price of this will be $50 again and money will be made.
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BAC may have under estimated the "cost" of Merrill Aquisition
BAC
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It appears that a lot of great talent is exiting Merrill, and as that talent leaves, so does the wealth of many long time clients. Merrill's Greg Flemming has announced he is leaving the firm to go work as a professor at Yale. Several other traders have left the firm abruptly in recent weeks and usually where traders go, there clients follow. I am fairly confident that BAC will get additional funds from the TARP program. Short term, this stock is going to be under tremendous pressure, especially as the effects of their Countrywide purchase become fully known. Perhaps we will really kno< />< />...
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Need Cash - A new not so subtle form of 'give me the money'
BAC
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Show me the money is history, and we are all chanting 'Give me the money' BAC is within its rights to ask for TARP cash to fund the Merrill Lynch acquisition, otherwise they would be suffering from a high cost of funds for having navigated the crisis on their own. They need to be on par with the other players to compete with Morgan Staney Smith Barney JV and the others so miraculously saved by Paulson and who will also be funded by Obama's team as and when they sort out the mechanics for an approval of $700 bn as a new avatar of TARP To make a fair stab at the market, while working on...
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Cheap
BAC
Neutral on BAC ...
BAC
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“If Morgan and Citi get together, they would be able to put together a retail brokerage unit that is larger than Merrill’s thundering herd, which could position them well in the marketplace,†said Chris Probyn, chief economist at State Street Global Advisors. “This may be a way of staying competitive.†During the past several months of financial turmoil, many banks have had to overhaul their business models. Morgan Stanley and Goldman Sachs Group Inc. became bank holding companies shortly after rival Lehman Brothers Holdings Inc. filed for bankruptcy protection and Merrill Lync...
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