Silvester17 

here's a well written article about matt taibbi. The Millions : Matt Taibbi’s Class Warfare is Truthy and Depressing

What does that have to do with BAC?

Private Banker 

What does that have to do with BAC?

yes, sorry about that.

just wanted to express my doubts about the credibility of matt taibbi (including his article about bac). seems he likes to stretch the facts a little bit (my link about him).

but in his defense he writes what people (main street) like to read.

now back to topic: bac back above $9

Silvester17 

now back to topic: bac back above $9

Nice call.

Mike

The market continues higher because the bank stocks continue higher. If, I didn't have money flow bars, a normal candle, today for BAC is Red.

Bank of America denies wrongdoing over Archstone LBO - Los Angeles Business from bizjournals

Quoting 

Bank of America Corp. (NYSE: BAC) told a New York bankruptcy court it did nothing illegal or wrong in trying to sell a stake in apartment owner Archstone to Equity Residential for almost $1.5 billion. The move is being opposed by bankrupt Lehman Brothers Holdings Inc. , which is seeking to recover money on behalf of creditors of the former investment bank, which imploded in 2008. Bloomberg reported that Lehman has agreed to purchase half the stake owned by BofA and Barclays plc (LSE: BARC) in the developer, which it wants to package up and sell later to help repay creditors. The banks would be enriched at the expense of Lehman creditors if Lehman has to match the $1.5 billion real estate tycoon Sam Zell’s Equity is willing to pay for the remainder, the news service said, citing a recent bankruptcy court filing by Lehman. Lehman acquired Archstone for $22 billion in a leveraged buyout with Tishman Speyer Properties. The banks acquired their stakes after faltering loans were converted to equity. “Bank of America denies that it has engaged in illegal conduct or that any conduct that it is alleged tohave engaged in has harmed plaintiffs,” Bloomberg quoted BofA of stating in a court filing. Archstone's western offices are based in Santa Ana. The company also owns apartment complexes in and around the Los Angeles area.

Mike

Why was BAC so strong today (5/7/12), relative to the other financials? There was no news on it. Anyone know, and if so, can they point me to their news source? ;-)

Thanks.

Bank of America to Pay $2.43 Billion in Settlement - US Business News - CNBC



Mike

Simply the bones of a once well run company. Nations Bank was the beginning of the end for them.

Countrywide....

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Big Mike 

Countrywide.... Sent from my DROID RAZR using Tapatalk 2

Yep, without a doubt their worst acquisition ever, lol!