U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 04-17-2011, 12:38 PM
 
Location: Charlotte, NC (in my mind)
7,946 posts, read 14,208,414 times
Reputation: 4420

Advertisements

News Headlines

If BofA were to fail, that would make the collapse of Lehman look like your local Blockbuster closing. We would see completely and total economic armageddon if that were to happen.
Reply With Quote Quick reply to this message

 
Old 04-17-2011, 01:08 PM
 
14,217 posts, read 14,201,299 times
Reputation: 13440
Quote:
Originally Posted by bchris02 View Post
News Headlines

If BofA were to fail, that would make the collapse of Lehman look like your local Blockbuster closing. We would see completely and total economic armageddon if that were to happen.
Ah yes, another armageddon scenario from the OP

BofA is unlikely (to be allowed) to fail in its present form. Depending on how bad things are, there are a number of possibilities. One is that the bank will get broken up with the profitable divisions such as Merrill Lynch put into one company and then the rump of unprofitable businesses put into another one which is then allowed to fail.

Another possibility is that it will ride its current travails and come out stronger in the long run.
Reply With Quote Quick reply to this message
 
Old 04-17-2011, 09:51 PM
 
5,092 posts, read 9,393,053 times
Reputation: 3930
Or in the best of worlds, BoA simply fails and has its assets and accounts broken up into hundreds of small banks that could serve the interests of the customers, communities, and the nation.

And then everyone looks around, rubs their eyes, realizes the world did not end, and all laugh and say -- " This? This is what we all were afraid of?"

Meanwhile Glass-Steagall is reinstated and all the rest of the Mega-Banks are broken up and it is all smooth sailing ahead.

Not likely, but a girl can dream, huh?
Reply With Quote Quick reply to this message
 
Old 04-18-2011, 01:36 AM
 
Location: Tulsa, OK
135 posts, read 205,805 times
Reputation: 89
This is the worst run bank you'll ever find. Trust me.
Reply With Quote Quick reply to this message
 
Old 04-18-2011, 04:27 PM
 
Location: Charlotte, NC (in my mind)
7,946 posts, read 14,208,414 times
Reputation: 4420
More evidence BofA is the next Lehman...

News Headlines
Reply With Quote Quick reply to this message
 
Old 04-18-2011, 05:23 PM
 
Location: Portland, Oregon
7,091 posts, read 10,239,573 times
Reputation: 4099
Considering the abject failure of the last 3 years of predictions of economic collapse, where the economy skyrocketed instead, I know what I am going to do. Tomorrow morning I'm going to buy a bunch of calls on BOA because that company is going to rocket.

Thanks OP for finding my next gem in the rough!
Reply With Quote Quick reply to this message
 
Old 04-18-2011, 05:33 PM
 
Location: Warwick, RI
2,493 posts, read 3,734,653 times
Reputation: 3897
Bank Of America is as profitable as the other majors (WFC and JPM) with the exception of it's mortgage division, formerly known as Countrywide, which unfortunatley for us shareholders, they aquired during the 2008 meltdown. Given the still rebounding economy and recent new banking regulations, the retail banking unit is doing as well as any other major bank, and the Merrill Lynch investment banking division is highly profitable. In other words, the company is getting better, if slowly. It will take another year or two (and a lot of dollars) for BAC to sort through the rest of the Countrywide mortgage mess and finish getting that cleaned up before the stock can get back to a "normal" valuation and resume paying dividends. In the meantime, they will continue to be the political punching bag for politicians, the media, and the doom and gloomers on sites like this.
Reply With Quote Quick reply to this message
 
Old 04-19-2011, 06:47 AM
 
46,516 posts, read 37,309,002 times
Reputation: 28816
Quote:
Originally Posted by bchris02 View Post
News Headlines

If BofA were to fail, that would make the collapse of Lehman look like your local Blockbuster closing. We would see completely and total economic armageddon if that were to happen.
Is this the Dow 6000, oil $500, gas $15, Gold $11,000 and ounce or food riots type armageddon?

Is this Fight Club?
Reply With Quote Quick reply to this message
 
Old 04-19-2011, 08:07 AM
 
8,268 posts, read 10,074,360 times
Reputation: 4740
Quote:
Originally Posted by Mathguy View Post
Is this Fight Club?
No, this... is... Thunderdome! (by end of 2nd quarter 2011)

Two man enter, one man leave, two man enter, one man leave....
Reply With Quote Quick reply to this message
 
Old 04-19-2011, 08:14 AM
 
Location: Sinking in the Great Salt Lake
12,570 posts, read 17,771,485 times
Reputation: 13251
Quote:
Originally Posted by slackjaw View Post
No, this... is... Thunderdome! (by end of 2nd quarter 2011)

Two man enter, one man leave, two man enter, one man leave....
And Geitner rule bartertown with mounds of pig $h!%.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or
Similar Threads

All times are GMT -6.

2005-2017, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32 - Top