BAC-WT - Bank of America Warrants

[Liberty]

Litigation vs BAC:

 

http://i1.ytimg.com/vi/KF3K7Ja_C5U/movieposter.jpg?v=4e728829

[MYDemaray]

I have a feeling that Eric Holder is also asking BAC to sponsor the Justice Department's softball team and this year's holiday party...it's the gift that keeps on giving.  BAC should change its logo to a pinata.

[BRK7]

BAC should change its logo to a pinata.

 

LOL

[fareastwarriors]

BAC should change its logo to a pinata.

 

LOL

 

It all makes sense now. Now I know why the company is called Bank of America.

 

[ERICOPOLY]

This will embolden Putin to invade Ukraine in order to keep it from falling to America's brand of communism.

 

 

[OracleofCarolina]

Maybe they need to change their name to

"Bank for America"

[alertmeipp]

Hope to see some sell off from this.

mid 15 please.

[ERICOPOLY]

A name change to People's Bank of America will do.

 

How does one go about getting a shareholder resolution on the next proxy?

[gary17]

Now that sounds like a bank in China :)

[ERICOPOLY]

I admire how the Chinese are honest about the fact that their banks are state run enterprises.

[wescobrk]

General motors cover up amounted to people dying yet the government gave up while the taxpayer lost over 10 billion.

What are the lawsuits against gm? Two billion?

The banks pay back their loans plus profits and they sue them for tens of billions.

The government doesn't want the banks to break up. There is too much money in it for them.

 

Still confused why citi was denied but bac can get approved when they admitted they can't estimate their losses on their last quarterly call.

 

[ERICOPOLY]

This would put it around $9.7b:

 

http://dealbook.nytimes.com/2014/04/24/justice-dept-offers-bank-of-america-a-mortgage-deal/?_php=true&_type=blogs&partner=yahoofinance&_r=0

 

In a move that raised the stakes for the government’s crackdown on banks that sold the troubled mortgage investments during the financial crisis, the Justice Department made Bank of America an opening settlement offer of roughly $20 billion several weeks ago, according to people briefed on the matter.

 

But that amount is a somewhat inflated starting point for negotiations, and Bank of America has not yet made a counteroffer, according to the people who were not authorized to speak publicly.

 

The initial offer, the people said, included money earmarked for a settlement with the Federal Housing Finance Authority, a regulatory agency. After the Justice Department made that offer, Bank of America reached a separate $6.3 billion cash deal with the regulator. Because of this, the Justice Department’s remaining request has shrunk significantly.

 

By one measure, Bank of America will ultimately pay about $16 billion to settle every investigation into its sale of mortgage securities before the 2008 financial crisis. That estimate, widely circulated among bank executives and lawyers, would include the $6.3 billion pact already reached with the housing regulator. The remainder would cover penalties to the Justice Department, as well as to state and federal regulators, and a few billion dollars aimed at providing relief to struggling homeowners.

 

[BargainValueHunter]

JAN16 $20 calls...$1.00

[meiroy]

Read it awhile back and thought it was quite interesting:

 

http://www.bloomberg.co"m/news/2014-04-17/first-fed-enforcement-meeting-since-2010-follows-warren-request.html

 

"The Federal Reserve Board of Governors met to consider bank enforcement actions for the first time since November 2010, after Chair Janet Yellen pledged to Senator Elizabeth Warren in February to step up the board’s involvement in bank supervisory and regulatory matters.

 

Yellen, in a Feb. 27 appearance before the Senate Banking Committee, agreed to a request by Warren, a Democrat from Massachusetts, for greater board involvement in supervision. The Fed oversees about 6,000 banks"

 

 

 

[xazp]

Well I own GM too (I guess I chase big-news litigation).  But look, this ignition switch recall probably caused about 1 death a year over 10 years.  On a base of about 40,000 traffic deaths a year.  So there errors caused an increase of about .000025 in traffic deaths per year.  Total accidents may be in the hundreds which is again a miniscule amount.  This is not comparable to the scale of BAC, though they will be raked over the coals as BAC was. 

 

 

 

 

General motors cover up amounted to people dying yet the government gave up while the taxpayer lost over 10 billion.

What are the lawsuits against gm? Two billion?

The banks pay back their loans plus profits and they sue them for tens of billions.

The government doesn't want the banks to break up. There is too much money in it for them.

 

Still confused why citi was denied but bac can get approved when they admitted they can't estimate their losses on their last quarterly call.

[value-is-what-you-get]

The incentives here are clear as with FNMA.  The organizations can now pay for their sins so time to present the tab.

 

Once campaigning starts for 2016 elections, the Democrats can read out the list of record fines issued to the fat banks on Wall street for their roles in the meltdown, as well as reforms in place creating the strongest banks on Earth.  Unfortunately, it is present "clean" earnings paying for past dirty earnings so the present shareholder pays the price. 

All in all, I would rather own stock today than when it imploded!  It's a form of oppression that is actually making these banks very strong.

 

The human failings that created the mess have not been righted as those at the helm of the ship when it was filling with rats have walked away.  They and their spouses should lose everything (as proposed by WEB) - unfortunately the only lesson they learned is make sure you jump ship before all hell breaks loose - or even mid-way into it works too!

[gary17]

you should not look at GM like that - it's an ethical question, not a statistics one. 

 

Well I own GM too (I guess I chase big-news litigation).  But look, this ignition switch recall probably caused about 1 death a year over 10 years.  On a base of about 40,000 traffic deaths a year.  So there errors caused an increase of about .000025 in traffic deaths per year.  Total accidents may be in the hundreds which is again a miniscule amount.  This is not comparable to the scale of BAC, though they will be raked over the coals as BAC was. 

 

 

 

 

General motors cover up amounted to people dying yet the government gave up while the taxpayer lost over 10 billion.

What are the lawsuits against gm? Two billion?

The banks pay back their loans plus profits and they sue them for tens of billions.

The government doesn't want the banks to break up. There is too much money in it for them.

 

Still confused why citi was denied but bac can get approved when they admitted they can't estimate their losses on their last quarterly call.

[BargainValueHunter]

GM = unions...autoworkers...working class

BAC = "Fat Cats"...Romney..."banksters"...boo...hiss

For the Obama crowd this is an easy choice when it comes to a pound of flesh.

[rkbabang]

GM = unions...autoworkers...working class

BAC = "Fat Cats"...Romney..."banksters"...boo...hiss

For the Obama crowd this is an easy choice when it comes to a pound of flesh.

 

Nailed it!  It is the image of the product as well.  Nobody gets nostalgic when thinking about their bank.

 

[obtuse_investor]

Nailed it!  It is the image of the product as well.  Nobody gets nostalgic when thinking about their bank.

 

I often recall of the time when a banker could lend at 3, borrow at 2 and be at a golf course by 1.

 

 

[dutchman]

we are a carnival of masochists.

[fareastwarriors]

http://www.cnbc.com/id/101614946

 

 

Dick Bove has bad news on Bank of America earnings

[nkp007]

Here's CNBC with a 10bln number.

 

http://www.cnbc.com/id/101582319

 

I hope they are reserved for this.

 

Up to this point, they have never been fully reserved for anything.

 

I doubt that changes now, unfortunately.

[ERICOPOLY]

It's strange how the owners can't get a straight answer out of the employees, yet the employees keep on running the show.  Only in the stock market fractional-ownership structure is this allowed to happen.

[tng]

Well, nobody at BAC can know how long they will continue to be the government's punching bag. For a moment, I thought Citi was going to take over that role.