BoA Securities Quits AIG

Posted by Bess Levin, Sep 16, 2008, 4:34pm

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"

7Recommend this! 21Comments
Posted in: AIG, Bank of America

Comments

1

Posted by guest , Sep 16, 2008 4:35PM

Fo shizzle ma nizzle

2

Posted by guest , Sep 16, 2008 4:37PM

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

3

Posted by guest , Sep 16, 2008 4:38PM

in english please?

4

Posted by guest , Sep 16, 2008 4:38PM

in english please?

5

Posted by guest , Sep 16, 2008 4:38PM

in elgish please?

6

Posted by guest , Sep 16, 2008 4:41PM

@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

7

Posted by guest , Sep 16, 2008 4:41PM

It be English. Lop some boogie.

8

Posted by Investorcluzo , Sep 16, 2008 4:47PM

@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!

9

Posted by guest , Sep 16, 2008 4:51PM

so you're saying you DO condone chicanery?

10

Posted by guest , Sep 16, 2008 4:53PM

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

11

Posted by guest , Sep 16, 2008 4:54PM

AIG is toast. Conservatorship.

It's trading below $2 after-market now

12

Posted by guest , Sep 16, 2008 4:55PM

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

Almost...

13

Posted by guest , Sep 16, 2008 4:57PM

AIG is toast. Conservatorship.

It's trading below $2 after-market now

14

Posted by Anal_yst , Sep 16, 2008 5:02PM

@ 12

NEVER

Sheep, and all that

15

Posted by guest , Sep 16, 2008 5:03PM

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

16

Posted by guest , Sep 16, 2008 5:06PM

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

17

Posted by DrederickTatum , Sep 16, 2008 5:08PM

Its not necessarily conservatorship... it could be BK.

18

Posted by guest , Sep 16, 2008 5:10PM

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.

21

Posted by guest , Sep 16, 2008 5:20PM

"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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