• 23 Aug 2011 at 3:23 PM

Could There Be A JP of Amerillwide In Our Future?

By

Or are we looking at an early front-runner for most bat shit crazy rumor of the week?

There is a rumor circulated on Wall St. that JP Morgan will take over Bank of America within the week. The government will support the deal with a $100 billion investment in preferred shares issued by the combined entity. Alternatively, the government may guarantee the value of a large pool of Bank of America assets. The word is that Treasury Secretary Geithner has discussed the transaction with JP Morgan CEO Jamie Dimon.

JPMorgan May Take Over Bank Of America [24/7 WS]

Sign up for the Dealbreaker newsletter

Subscribe to our free daily email and get breaking news, financial headlines, commentary, and analysis from Dealbreaker.

— Advertisement —

Comments (41)

  1. 1
    Posted by Dennis Gartman | August 23, 2011 at 3:31 PM

    We will have a hurricane this year

  2. 2
    Posted by Brian M. | August 23, 2011 at 3:33 PM

    Please, pretty please Mr. Dimon….

  3. 3
    Posted by Whatever | August 23, 2011 at 3:33 PM

    JPM Paine/Shearson Merillwide Brothers & Stanley.

  4. 4
    Posted by Dora the Explora | August 23, 2011 at 3:33 PM

    A volcano just erupted in Bryant Park. Lava everywhere.

    /Sent from my hPad

  5. 5
    Posted by Flying Pigs R Us | August 23, 2011 at 3:37 PM

    No, nope, not happening, nfw…

  6. 6
    Posted by guest | August 23, 2011 at 3:40 PM

    Jamie D: I'll take the deposits, timmy and ben you get the losses as well as the rest of Montag's guarantee

  7. 7
    Posted by Guest | August 23, 2011 at 3:44 PM

    Shouldn't it be JP Mamerrilwide

    - 3rd. year analyst, Banco Santander

  8. 8
    Posted by geoffgeoffgeoff | August 23, 2011 at 3:46 PM

    It's tremendous to see our government engineering the banking sector. Fuck yeah, America.

    (If this is true, of course.)

  9. 9
    Posted by B2b MD | August 23, 2011 at 3:48 PM

    At that point, Jamie might as well be Treasury secretary because combined entity would control over 20% of the nation's deposits. JPM becomes like a giant utility company.

    Former JPM MD who thinks Jamie walks on water, but that BAC is an ocean full of Boone's Farm and Bronzing Cream.

  10. 10
    Posted by Texashedge | August 23, 2011 at 3:50 PM

    No fucking way

  11. 11
    Posted by Anal_ist | August 23, 2011 at 3:56 PM

    Who takes the Thundering Turd?

  12. 12
    Posted by VonSloneker | August 23, 2011 at 3:57 PM

    Something something, in order to survive…

    -Lazy Poster

  13. 13
    Posted by Guest | August 23, 2011 at 4:03 PM

    Taking "Too Big To Fail" to a whooooooooooole 'nother level.

  14. 14
    Posted by PermaGuestII | August 23, 2011 at 4:03 PM

    J.P. Morgan Chase Bear Fleet Boston Stearns Merrill Chemical MBNA Lynch North Carolina National Bank of American Countrywide, NA.

    "We are as nimble as our name."

  15. 15
    Posted by Guest | August 23, 2011 at 4:05 PM

    I heard Gleacher was taking over BAC by the end of the week.

  16. 16
    Posted by J. Paulson | August 23, 2011 at 4:05 PM

    ABANDON SHIP!!!!

  17. 17
    Posted by Texashedge | August 23, 2011 at 4:07 PM

    Might as well throw in Manufacturer's Hanover and Texas Commerce Bank as well

  18. 18
    Posted by Bob Zamuda | August 23, 2011 at 4:11 PM

    JP Goldman of Sachillwide

  19. 19
    Posted by G. Taylor | August 23, 2011 at 4:15 PM

    You Maniacs! You blew it up! Ah, damn you! God damn you all to hell!

  20. 20
    Posted by @TheArizonaTimes | August 23, 2011 at 4:24 PM

    Maybe they'll ditch those stupid waterless urinals now.

  21. 21
    Posted by Alf | August 23, 2011 at 4:27 PM

    JP Jaffray Sachs

  22. 22
    Posted by Dingalingjr | August 23, 2011 at 4:31 PM

    J Dimon wants to be like JP Morgan himself. And there's enough shitty banks to let that happen.

  23. 23
    Posted by Cut Me | August 23, 2011 at 4:32 PM

    Just shorten it to Volksbank

  24. 24
    Posted by D. Fuld | August 23, 2011 at 4:39 PM

    BAC is overcapitalized, it is those darned short sellers………

  25. 25
    Posted by guest | August 23, 2011 at 4:45 PM

    that was covered in the losses part

    -jamie

  26. 26
    Posted by TheBankNamer | August 23, 2011 at 4:50 PM

    …Moldman Stachs…?

  27. 27
    Posted by Guest | August 23, 2011 at 4:51 PM

    Eh

  28. 28
    Posted by VonSloneker | August 23, 2011 at 4:54 PM

    I still call my bulding "The Texas Commerce Bank" building…the youngsters look at me funny .

    Also, they could go deep in their DNA for a bank name that might end up being very appropos…Bank One. As in there will only be one left when they're done…

    -Oldster

  29. 29
    Posted by PermaGuestII | August 23, 2011 at 5:08 PM

    Forgot about both of them- and First Chicago NBD, too.

  30. 30
    Posted by Muckracker | August 23, 2011 at 5:38 PM

    They have to stick the bondholders with some losses! BAC should send CW into receivership ASAP and that would cover all the probs. I do not want to pay for another BAC f Up!

  31. 31
    Posted by HitlersBanker | August 23, 2011 at 5:40 PM

    Bank of Ping!

  32. 32
    Posted by Louis Winthorpe III | August 23, 2011 at 6:52 PM

    J.P. Morgan Chase Bear Fleet Boston One Stearns Merrill Chemical MBNA Lynch Manufacturer's Robertson Pierce Stephens Fenner Hanover Smith Commerce Providian Montgomery North Carolina Washington Texas Chicago Mutual National Manhattan's Great Western Bank of American Countrywide Securities, NA., NBD

    "It's NBD."

  33. 33
    Posted by A.P. Giannini | August 23, 2011 at 8:52 PM

    this is the day I've been dreaming about since 1949

    -The Chairman

  34. 34
    Posted by Guest | August 23, 2011 at 9:07 PM

    Yeah but … Moland?

  35. 35
    Posted by FinnHopKee | August 24, 2011 at 12:39 AM

    What, no Drexel Burnham?

  36. 36
    Posted by FinnHopKee | August 24, 2011 at 12:41 AM

    There is no way JP is taking over BoA. Washington Monument more likely to crack than a deal so gargantuan and stupid gets done.

  37. 37
    Posted by Guest | August 24, 2011 at 3:16 AM

    JP Goldman Stanley?

  38. 38
    Posted by Cut Me | August 24, 2011 at 9:26 AM

    Drop the "the".

  39. 39
    Posted by Guest | August 24, 2011 at 9:37 AM

    http://www.politico.com/news/stories/0811/61960.h…

  40. 40
    Posted by VonSloneker | August 24, 2011 at 10:50 AM

    M Bank as well (I think they got swallowed up by Bank One)

  41. 41
    Posted by Chuck | August 25, 2011 at 5:55 AM

    Call it JT Marlin! It sounds respectable.

Leave a comment

You can log in with your account or comment as a guest below.

   or