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Dirk Diggler
02-05-2009, 06:57 AM
BAC just fell under $4.00 per share, it's down 17% today. Do you think the government is going to nationalize it, or are they going to throw more money at it?

frankenstein
02-05-2009, 07:01 AM
Probably throw more money.
BOA bought Countrywide and Merrill Lynch with the expectation of federal funds. If they nationalize, I'm transferring my savings and checking to a credit union.

mrawdtsi
02-05-2009, 07:53 AM
buy now. im about to pay off my credit card this week.

LOL :D

also, i've always been a credit union member. I don't trust a standard bank with savings/checking accounts. always nickle and diming you. :mad:

Pay_Me
02-05-2009, 07:57 AM
I'm putting a 25% chance by 1/31/10 that either BAC or C will be nationalized for at least a period of time.

Streetbull
02-05-2009, 07:57 AM
Bankers basically run everything. Look at all the money they got, compared to the autos.

So, become a banker. Buy the stock and wait a couple of years. You'll be glad you did.

Dirk Diggler
02-05-2009, 08:15 AM
I'm putting a 25% chance by 1/31/10 that either BAC or C will be nationalized for at least a period of time.

I thought C would be in much worse shape than BAC, but now I'm not so sure. They're both insolvent, so I guess it doesn't matter.

NYY
02-05-2009, 08:18 AM
Probably throw more money.
BOA bought Countrywide and Merrill Lynch with the expectation of federal funds. If they nationalize, I'm transferring my savings and checking to a credit union.

If that happens, so will I.

Dirk Diggler
02-05-2009, 08:21 AM
If that happens, so will I.

I've had an account at a local credit union for several years, it's probably not a bad idea to check into one. The loans are cheaper and the savings accounts usually pay a higher rate than traditional banks.

skinny buckeye
02-05-2009, 08:38 AM
I've had an account at a local credit union for several years, it's probably not a bad idea to check into one. The loans are cheaper and the savings accounts usually pay a higher rate than traditional banks.

my guess is by end of 2009 both C and BAC will be 100% nationalized... or de facto nationalized. ie equity holders basically wiped out. govt will own and then split up down the road.

the losses coming from comercial real estate and Alt-A are just too big to get past

Dirk Diggler
02-05-2009, 09:39 AM
my guess is by end of 2009 both C and BAC will be 100% nationalized... or de facto nationalized. ie equity holders basically wiped out. govt will own and then split up down the road.

the losses coming from comercial real estate and Alt-A are just too big to get past

I agree, hopefully if the government is going to nationalize, they do it before wasting more money trying to keep them above water. I personally think going long in either BAC or C is a dumb move.

US_Ranger
02-05-2009, 09:46 AM
BAC just fell under $4.00 per share, it's down 17% today. Do you think the government is going to nationalize it, or are they going to throw more money at it?

They upgraded my checking account to the "premium" service when I didn't ask for it and then charged me a 20 dollar fee for my premium status. Everytime I called, all the people in charge were magically busy and couldn't talk to me.

This is the latest in a string of Bank of America usefulness.

As for the stock, that's all you.

bird72
02-05-2009, 09:51 AM
They upgraded my checking account to the "premium" service when I didn't ask for it and then charged me a 20 dollar fee for my premium status. Everytime I called, all the people in charge were magically busy and couldn't talk to me.

This is the latest in a string of Bank of America usefulness.

As for the stock, I'd say "buy" since banks aren't allowed to fail in America for whatever reason.

Coincidentally, I did a balance transfer credit card to another, a month ago and they have not been accredited or have changed the pay check, they returned the check because it did not have the account #, but I send the Check with the billing paper who have the account #. that cost 60 dollars on interest. is unbelieve that a bank don't want to change a check.

Dave P
02-05-2009, 09:52 AM
I'm torn on if I want to try a run at investing in BoA.

I made alot on Citigroup last month.

Dirk Diggler
02-05-2009, 10:02 AM
I'm torn on if I want to try a run at investing in BoA.

I made alot on Citigroup last month.


There may be some potential if you do some momentum trading, but buy and hold is a no go in my opinion. I read that Dodd is pushing for a modification of mark to market accounting rules, that could lead to a short-term rally. In my opinion there's a couple shoes left to drop that will lead to equity holders getting the shaft eventually.

Morbid_Mind
02-05-2009, 12:16 PM
BAC just fell under $4.00 per share, it's down 17% today. Do you think the government is going to nationalize it, or are they going to throw more money at it?

BAC and/or C will likely be nationalized by the summer.

Duckenheimer
02-05-2009, 12:24 PM
BAC and/or C will likely be nationalized by the summer.

I'm calling for unbelievably epic stuff to happen to either of them by Monday.

No rhyme nor reason. I'm going to do this every week until I get repped.

channelcat
02-05-2009, 12:28 PM
where it's trading indicates to me that common shares will be worth basically nothing after its all played out, imo.

Morbid_Mind
02-05-2009, 12:34 PM
I'm calling for unbelievably epic stuff to happen to either of them by Monday.

No rhyme nor reason. I'm going to do this every week until I get repped.

I sense some facetiousness in your post...

I think with all of the chatter from Washington about the banks they will largely be taken over in one form or another. They (the US government) is already the largest shareholder in these banks from the first TARP. With additional programs being considered, ranging from $2-4T (according to Geithner), I would not doubt a federal takeover.

Listen to what some of people like Barney Frank, Nancy Pelosi et.al. have to say about the banking sector...


where it's trading indicates to me that common shares will be worth basically nothing after its all played out, imo.

If they are nationalized or even if the federal government recieves warrants as part of a bailout, the common stock holders will be completely wiped out.

Duckenheimer
02-05-2009, 02:45 PM
I sense some facetiousness in your post...


O rly...

We'll see who's facety on Monday. :cool:

edible_eye
02-05-2009, 03:27 PM
I severed all ties with Bank of America the moment they announced they were supplying mortgages to illegal aliens.

Fu<k them. I hope they crumble.