Let's Set the Record Straight on Bank of America

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Note that William K. Black is in Kilkenny this weekend.

cough splutter I had to check the date…
bbc.co.uk/news/business-13093701

nakedcapitalism.com/2011/06/ … llion.html

Make sure to read to the updates at the end…

NY Times latest

nakedcapitalism.com/2011/06/ … stors.html

BAC stock price getting hammered -> google.com//finance?chdnp=1& … BAC&ntsp=0

Bank of America Corporation (NYSE:BAC) Could Face Huge Lawsuit -> emoneydaily.com/bank-of-amer … /69816812/

AIG Is Suing Bank of America for $10 Billion -> theatlanticwire.com/business … ion/40937/

Fannie’s Bailout Grows by $5 Billion as It Squeezes Bank of America -> theatlantic.com/business/arc … ca/243178/

Bankruptcy law bites Bank of America -> delawareonline.com/article/2 … y=nav|head

market-ticker.org/akcs-www?post=192745

No additional words needed XD

bloomberg.com/news/2011-08-2 … surge.html

Not so sure BofA will repay as quickly as Goldman Sachs, 6% is on the low side for a deal like this IMO. I have to wonder at Buffet, he seems to want to be the private FED in terms of supporting key industries, maybe feels that a more serious depression can be avoided by doing so.

No, I don’t think they’ll repay so quickly and I think the price reflects that. It concerns me too that Mr. Buffet has settled for such a low price for risk capital - to me it says that there is serious trouble ahead and that 6% is going to seem like a cracking yield in two years time.

reuters.com/article/2011/08/ … 6F20110830

nakedcapitalism.com/2011/08/ … nties.html

I know this was posted on another thread but I think its great…

Bank of America tells Republican Presidential frontrunner Rick Perry that they “will help him”

No strings attached of course. :smiley:

That Fannie and Freddie would sue BOA seems implausible, there is just way too much dirty linen to be washed should BOA be allowed to fail. BOA seemed to be stupid enough on their own to buy Countrywide but it was very helpful for the FDIC, the FED, and Tresuary that they did so, it certainly removed a headache. $4billion investment with losses since of $20billion+ and growing exponentially, yikes

Remember the shennanigans of the Merrill Lynch deal back in 2009, neatly brushed under the carpet after getting aired in Congress.

thenewamerican.com/economy/comme … nu-43/1054

abcnews.go.com/Business/story?id=8092013&page=1

https://www.youtube.com/watch?v=8jk2zd_fclQ

Better video and excellent article here:

nakedcapitalism.com/2011/09/ … teers.html

BofA To Sell Stake In Pizza Hut Franchisee For $800 Million -Bloomberg -> advfn.com/news_BofA-To-Sell- … 77921.html

Bank of America Continues to Sell Parts of Itself -> fool.com/investing/general/2 … tself.aspx

nakedcapitalism.com/2011/09/ … ition.html

Speaking of which, IFSC-based Sealink Funding Ltd is suing Bank of America in a story that illustrates the US subprime->IFSC->Landesbank chain:

There is some Solocheck info on Sealink Funding here:
pastebin.com/3sXRN2zX

zerohedge.com/news/bank-amer … w#comments