• 24 Aug 2011 at 10:17 AM

Meredith Whitney Knows This BAC Situation Might Hurt But ‘Hold On’ And Let The Pain Wash Over You

By Bess Levin

Chief Executive Officer Brian T. Moynihan is “the right guy for the job,” said Whitney, 41, who started New York-based Meredith Whitney Advisory Group LLC in 2009. Bank of America, based in Charlotte, North Carolina, probably won’t need to raise capital in the public markets, and shareholders should “hold on,” Whitney said. Bank of America has lost more than half its value on the New York Stock Exchange this year. Moynihan, 51, has said repeatedly that the company won’t need to issue shares to comply with new international capital standards. Bank of America has sold more than 20 assets or units since Moynihan took over last year. “They’re biting into the marrow of the institution to raise capital,” Whitney said. “They’re selling some crown jewels.” [Bloomberg]

Comments (50)

  1. 1
    Posted by fingers crossed | August 24, 2011 at 10:58 AM

    Sadly, the 'safe words are for pu$$ies$' tag didn't bring up any other Dealbreaker articles.

  2. 2
    Posted by BessLevin | August 24, 2011 at 11:02 AM

    http://dealbreaker.com/tag/safe-words/ http://dealbreaker.com/tag/there-are-no-safe-word...

  3. 3
    Posted by VonSloneker | August 24, 2011 at 11:04 AM

    Kiss of death.

  4. 4
    Posted by inlovewithpmco | August 24, 2011 at 11:05 AM

    pmco, what is your safe word?

  5. 5
    Posted by Angelo Mozilo | August 24, 2011 at 11:10 AM

    Countrywide Financail is the "Hope Diamond" of their crown jewels, but I've advised Brian to hold on to that one

  6. 6
    Posted by P. Griffin | August 24, 2011 at 11:11 AM

    My safe word is BANANA.

  7. 7
    Posted by Guest | August 24, 2011 at 11:17 AM

    Meredith Whitney + Dick Bove + trading < book value + capital raises = bac still sucks

  8. 8
    Posted by Alpha_Bets | August 24, 2011 at 11:23 AM

    Meredith Whitney + biting into the marrow + crown jewels = joke about fat chick literally eating a dude's junk

  9. 9
    Posted by slainwaxwing | August 24, 2011 at 11:27 AM

    Selling the crown jewel was my turning point as well. — L. Dykstra.

  10. 10
    Posted by The Guy 2 cubes down | August 24, 2011 at 11:28 AM

    Oh man. that was my dream last night! how'd you know?

  11. 11
    Posted by Cut Me | August 24, 2011 at 11:28 AM

    I bet it's 'deeper'

  12. 12
    Posted by Shawn | August 24, 2011 at 11:30 AM

    Just me, or is it unusual to quote Whitney's age in the article? (Assuming it's ripped right outta Bloomberg…)

  13. 13
    Posted by Spyro the Agknewt | August 24, 2011 at 11:30 AM

    Whitney tells this to all her man prey she takes home for the first time.

  14. 14
    Posted by Guest | August 24, 2011 at 11:43 AM

    Use Prime brokerage as a funding source, fudge balance sheets at quarter end, do frequent capital raises by selling stock, borrow from Fed using collateral which no else wants….Yep, the US financial system is humming along superbly. You makes us all proud.

    -Banana Republics of the World

  15. 15
    Posted by minus 1 | August 24, 2011 at 11:44 AM

    it's unusual that they insert humor into their articles,,, but 41 did give me a chuckle

  16. 16
    Posted by guest | August 24, 2011 at 11:53 AM

    Age? 41 is her weight (measured in stones)

  17. 17
    Posted by DSK | August 24, 2011 at 12:01 PM

    My safe word is "fluggaenkdechioebolsen"

  18. 18
    Posted by minus 1 | August 24, 2011 at 12:02 PM

    wtf is a stone?
    -angry american

  19. 19
    Posted by PermaGuestII | August 24, 2011 at 12:17 PM

    14lbs…

  20. 20
    Posted by Jackson County, AL | August 24, 2011 at 12:37 PM

    Based on this vote of confidence, we will be placing 100% of our pension assets into BofA, can someone loan us $4.67 so we can get a full share?

  21. 21
    Posted by James Mahoney | August 24, 2011 at 12:42 PM

    Well said Mo'! But remember we threw Moynihan in the hot seat a few years ago because we couldn't find a definitive position for him. After 3 – 4 lines of business we figured it's time to cut his head off from the top.

  22. 22
    Posted by FKApmco | August 24, 2011 at 12:45 PM

    How can Beth be only 96%?
    Matty: take a look at the IntenseDebate Reputation Meter algo now, pls.

  23. 23
    Posted by guesticles | August 24, 2011 at 12:46 PM

    41 = Soupchicken…

  24. 24
    Posted by FKApmco | August 24, 2011 at 12:47 PM

    It's "harder-slower-faster-longer…DEEEEEPER" if you must know.

  25. 25
    Posted by Pro Wrestler | August 24, 2011 at 1:05 PM

    top rope, jog bra, leotard & cape…

    (no amount of eye bleach can erase)

  26. 26
    Posted by Comptroller | August 24, 2011 at 1:06 PM

    Central Falls, RI will come up with the balance……

  27. 27
    Posted by pierre | August 24, 2011 at 1:41 PM

    3 shares gets me a matinee ticket to see "the Help" A romantic comedy, pre the forlorn days when Jackson County wanted working toilets for all, inside and outside the house. See the movie, forget the stock.

  28. 28
    Posted by Guest | August 24, 2011 at 2:17 PM

    I like how you're at 69…

    call me!

  29. 29
    Posted by Cut Me | August 24, 2011 at 2:25 PM

    I’m a bit disappointed. I was expecting to hear ‘slam my cervix’, or is that your pickup line?

  30. 30
    Posted by Bankruptcy atty | August 24, 2011 at 2:29 PM

    It's Jefferson County, AL, and still not funny

  31. 31
    Posted by Cut Me | August 24, 2011 at 3:11 PM

    You somehow mistyped abovethelaw.

  32. 32
    Posted by arrgh | August 24, 2011 at 4:05 PM

    they sold thain's toilet?

  33. 33
    Posted by FKApmco | August 24, 2011 at 4:21 PM

    My pick up line is "hello"

  34. 34
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