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02-07-2009, 12:53 AM
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Location: Georgia, on the Florida line, right above Tallahassee
10,472 posts, read 15,334,473 times
Reputation: 6396
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02-07-2009, 07:56 AM
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2,197 posts, read 7,191,697 times
Reputation: 1701
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BofA can thank two entities for that: Merrill Lynch and the government. If BofA hadn't been forced to absorb ML, against BofA's better judgment, the company probably could've made it. ML's books were toxic and shareholders know it. There's little incentive to buy BofA stock now. If it's nationalized, it'll be worthless.
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02-07-2009, 08:44 AM
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20,185 posts, read 22,958,631 times
Reputation: 9275
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Hahahahaha.... I liked BoA and it actually had promise... the problem came when CEOs start making decisions.... glad I didn't invest in BoA..
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02-07-2009, 10:54 AM
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Location: WA
5,609 posts, read 24,059,285 times
Reputation: 6479
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These rating agencies are the same that had all the 'toxic debt' rated AAA until it was found it was closer to worthless.
I trust NO rating agency now.
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02-07-2009, 01:13 PM
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Location: where you sip the tea of the breasts of the spinsters of Utica
8,299 posts, read 13,669,377 times
Reputation: 8089
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Quote:
Originally Posted by goodbyehollywood
BofA can thank two entities for that: Merrill Lynch and the government. If BofA hadn't been forced to absorb ML, against BofA's better judgment, the company probably could've made it......
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They were forced, you mean at gunpoint? First I heard about it. Silly me, I thought it was their decision.
I wonder how long it will take me to transfer savings and checking to US Bank? Should only take an hour or so. |
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02-07-2009, 05:56 PM
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2,197 posts, read 7,191,697 times
Reputation: 1701
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Quote:
Originally Posted by Woof
They were forced, you mean at gunpoint? First I heard about it. Silly me, I thought it was their decision.
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Try the financial press. They report a little more than C-D.  |
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02-07-2009, 06:13 PM
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Location: Liberty, KY
206 posts, read 1,108,175 times
Reputation: 225
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They are junk with me since they just "reassigned" my credit line from 16,000 to 900.00.... my balance is 850.00 now and I've not missed a payment in quite some time and actually pay way more than the minimum. I was planning to pay if off next month anyway and close it out.
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02-07-2009, 07:30 PM
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Location: where you sip the tea of the breasts of the spinsters of Utica
8,299 posts, read 13,669,377 times
Reputation: 8089
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Oh, check out the first link - it's only their preferred stock that was downgraded.
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