• 16 Sep 2008 at 4:34 PM
  • AIG

BoA Securities Quits AIG

By

Rather than invoking the “WTF” call, Bank of America Securities has announced that it is dropping coverage of AIG. Sayeth BoAS:

The situation at this stage is binary and dependent on more political will than analyzable facts. While we see the value of the insurance operations being well excess of the parents liabilities, solving the liquidity issues have now entered the political realm. If the company gets into liquidation or bankruptcy the value could be significantly less than estimated. We acknowledge that the government and Fed could come up with a financing and if the situation gets clarified and lends itself again to fundamental analysis we would reconsider picking up coverage at that stage.

Related: Merrill Downgrades Lehman From “Neutral” To “WTF”

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    Comments (20)

    1. 1
      Posted by guest | September 16, 2008 at 4:35 PM

      Fo shizzle ma nizzle

    2. 2
      Posted by guest | September 16, 2008 at 4:37 PM

      I am the CEO of Fo shizzle what is ma nizzle?

    3. 3
      Posted by guest | September 16, 2008 at 4:38 PM

      in english please?

    4. 4
      Posted by guest | September 16, 2008 at 4:38 PM

      in elgish please?

    5. 5
      Posted by guest | September 16, 2008 at 4:41 PM

      @3/4/5– no reading comprehension? b o a knows it’s up to the fed and whether or not they suck it up…the situation is too in flux to analyze the company

    6. 6
      Posted by guest | September 16, 2008 at 4:41 PM

      It be English. Lop some boogie.

    7. 7
      Posted by Investorcluzo | September 16, 2008 at 4:47 PM

      @3/4/5/7 – it’s times like these when you need a little help…
      http://www.youtube.com/watch?v=5Czpp_io_KE
      not that I condone this type of shecanary!

    8. 8
      Posted by guest | September 16, 2008 at 4:51 PM

      so you’re saying you DO condone chicanery?

    9. 9
      Posted by guest | September 16, 2008 at 4:53 PM

      Shouldn’t b o a analysts just quit doing anything and wait for the inevitable tap on the shoulder?

    10. 10
      Posted by guest | September 16, 2008 at 4:54 PM

      AIG is toast. Conservatorship.
      It’s trading below $2 after-market now

    11. 11
      Posted by guest | September 16, 2008 at 4:55 PM

      ya…almost feel bad for the fools on yahoo finance boards right about now.
      Almost…

    12. 12
      Posted by guest | September 16, 2008 at 4:57 PM

      AIG is toast. Conservatorship.
      It’s trading below $2 after-market now

    13. 13
      Posted by Anal_yst | September 16, 2008 at 5:02 PM

      @ 12
      NEVER
      Sheep, and all that

    14. 14
      Posted by guest | September 16, 2008 at 5:03 PM

      AIG be toast. Man! Conservato’ship. Jes hang loose, brud.

    15. 15
      Posted by guest | September 16, 2008 at 5:06 PM

      How big will tomorrow’s rally be? +300? +500 maybe?

    16. 16
      Posted by DrederickTatum | September 16, 2008 at 5:08 PM

      Its not necessarily conservatorship… it could be BK.

    17. 17
      Posted by guest | September 16, 2008 at 5:10 PM

      even with significant counterparty exposure, it doesn’t seem as though ANY companies are going to be allowed to go out dragging others with along. where the fk is the financial armageddon i’ve been told will happen? conservatorship this and that. armageddon, yeah right.

    18. 18
      Posted by guest | September 16, 2008 at 5:12 PM

      @16
      Read this book for the answer.
      http://www.amazon.com/Dow-36-000-Strategy-Profiting/dp/0609806998/ref=sr_1_11?ie=UTF8&s=books&qid=1221599325&sr=8-11

    19. 19
      Posted by guest | September 16, 2008 at 5:15 PM

      @16
      Read this book for the answer.
      http://www.amazon.com/Dow-36-000-Strategy-Profiting/dp/0609806998/ref=sr_1_11?ie=UTF8&s=books&qid=1221599325&sr=8-11

    20. 20
      Posted by guest | September 16, 2008 at 5:20 PM

      “FAIR WARNING!!!! If you have $$ in bond funds or guareenteed 16-Sep-08 11:06 am
      interest accounts, READ ur prospectus!!!
      Most loan a portion to insurance companies (AIG)!!!
      I’m sure exposure would be minimal, BUT be aware— If AIG or any other ins co files bankruptcy, and the fund has $1 loaned to them, the ENTIRE FUND’S ASSETS WILL BE FROZEN, until such time that it clears the bankruptcy court.
      BE AWARE: READ UR PROSPECTUS!!!
      >
      DA FI$H”
      sorry if this is posted in the wrong place
      this was just posted to the apple board at yahoo finance
      could this guy be right?
      http://messages.finance.yahoo.com/Stocks_(A_to_Z)/Stocks_A/threadview?m=tm&bn=60&tid=2186807&mid=2186807&tof=2&frt=2

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