How much fucking up can Bank of America do? About $6.5 billion worth of fucking up, apparently, minus what they’ve already done. We're no experts, but we can’t help thinking that number sounds high. Could they really screw things up that badly on investment banking and mortgage transactions alone? Dubious. They want to justify that 6.5, they're going to have to start hauling ass, in and outside the office. We crunched some numbers (6.5 billion divided by 31,000) and found that it comes out to about 200,000 7-diamond dawn to dawn packages. It’s highly unlikely the relatively bland management at BoA will be able to blow through it all, but if they start working now, a sizable dent could be made. Mozilo has pledged to make up the difference.
Bank of America May Face $6.5 Billion Loss [CNBC]
Posted by guest , Mar 24, 2008 12:04PM
I am already hitting my salesman up for lunch at olive garden. how else can I help?
Posted by guest , Mar 24, 2008 12:25PM
BofA can start saving to buy PennyMac.
Posted by Living the Dream , Mar 24, 2008 1:28PM
Just curious, what is the consensus. Go for one 7 Diamond dawn to dawns, two 5 Diamond dawn to dawns, or three 3 Diamond dawn to dawns?
Posted by guest , Mar 24, 2008 1:40PM
Last friday BAC was a $39.00. Who is buying it at $43.00 today?
Posted by Investorcluzo , Mar 24, 2008 2:18PM
@1:40 - short's covering, after barron's goes bullish on a sector, you can bet that john q. public will be sure to follow.
Posted by guest , Mar 24, 2008 2:24PM
three 3 diamond, at the same time.
Posted by Anonymous , Mar 24, 2008 3:01PM
2 5s or 3 3s seems kind of immoral. I'd feel guilty.
I would take 1 7.
Posted by guest , Mar 24, 2008 4:13PM
thanks IC.
I am just confused on why the market is on steriods (again)?
i guess the only postive take away from today's action is that LEH traded negative all day.