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Are You A Financial Services Company Stuffed To Gills With Toxic Assets And/Or On The Verge Of Bankruptcy? Don’t Hold Your Breath For Brian Moynihan’s Call

Time was, Bank of America loved buying companies. Bonus points if there was a not-so-subtle suggestion by the target’s CEO that BofA would one day be very sorry for doing so, or that they would’ve been better off picking up an asbestos manufacturer, or that they were looking at roughly $40 billion (and counting) in legal fees associated with fuck-ups that were to become Bank of America’s problem, or that they would have night terrors for the rest of their lives about signing those papers. As it’s been a while since BofA went shopping, some in the financial services industry have been wondering if we can expect any announcements re: big deals anytime soon or if Ken Lewis’s unsolicited suggestions (Groupon, Sino Forest, The Thirsty Beaver, and most recently: “a P&C insurer with outsized exposure to the Northeast”) are or have ever been under consideration.

Sadly for fans of the Lewis Era/style of doing business, not so much.

Mr. Moynihan said in response to an audience question [at the bank’s two-day investor presentation conference for financial companies at the Plaza hotel] that the bank has “no acquisition plan at all.”

BofA’s Moynihan Says Fiscal Cliff Impact Already Happening [WSJ]

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29 Responses to “Are You A Financial Services Company Stuffed To Gills With Toxic Assets And/Or On The Verge Of Bankruptcy? Don’t Hold Your Breath For Brian Moynihan’s Call”

  1. CoveredLong says:

    The only acquisition plan Lewis ever had involved cases of Boone's.

  2. The bank has “no plan at all.”

    – fify

  3. Beaver Fever says:

    The thirsty beaver robbed me of my dignity and my childhood.

  4. Beaver Fever says:

    The Thirsty Beaver robbed me of my dignity and my childhood

  5. Guy In Charlotte says:

    Charlotte…a world class city with small town values. Bess is clearly jealous, and results to writing these post about how the fate of the whole metro area relies on this mans competence.

    • guesticles says:

      1. results ≠ resorts
      2. LOL at "Bess is clearly jealous [of Charlotte, NC]
      3. LOL at everything about your comment.
      4. Nothing in the above post says anything about how "the fate of the whole metro area relies on this man's competence."
      5. Are you with the Charlotte tourism board? Serious question.

    • Guy in Charlotte says:

      Not on the tourism board. Just sticking up for the Queen City that keeps taking Wall Streets jobs.

  6. Anonymous says:

    Bank of America should be called Bank of Toxic Waste

  7. Annoyed Guest says:

    what is wrong with the commenting system

    i understand making a dedicated link for each comment to drive up advertising traffic but getting rid of comments and replying is just ridiculous

  8. Matt's Feelings Hurt says:

    So the witty innovative age of dealbreaker comments is gone. I would say an interesting phenoma was that most comments were never troll like as the brutal down thumb bashing kept a pretty imaginative/witty board on here unique to most other sites as stupidity and not being original were not accepted.

    Cheers!

    RIP

  9. Thumb? says:

    WTF DB? WTF
    ____________
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    ___)
    ___)
    \ ________)
    \ /
    \ \
    \__\

  10. Guest says:

    Translation…we have rotting teeth, halitosis, and chronic fatigue syndrome from puking up all the shitty deals of The Kenny era.

  11. Grandma says:

    It's so nice to see a young man with manners these days

  12. Texashedge says:

    You can't say Boone's on here–YOU HAVE TO SAY CHIVAS

  13. Annoyed Guest says:

    what is wrong with the commenting system

    i understand making a dedicated link for each comment to drive up advertising traffic but getting rid of comments and replying is just ridiculous

  14. Matt's Feelings Hurt says:

    So the witty innovative age of dealbreaker comments is gone. I would say an interesting phenoma was that most comments were never troll like as the brutal down thumb bashing kept a pretty imaginative/witty board on here unique to most other sites as stupidity and not being original were not accepted.

    Cheers!

    RIP

    • BessLevin says:

      Nope. IntenseDebate, and thumbs up/down and replies, and everything that comes with it, is still here. There were a few hours where the ID plug-in was fucked up, and when that happens sometimes it makes the site revert to the old commenting system.

    • guest says:

      Glad you didn't jump to any conclusions there, there might've been egg on your face.

  15. Thumb? says:

    WTF DB? WTF
    ____________
    / __)
    ___)
    ___)
    ________)
    /

    __

  16. Anonymous says:

    Bank of America should be called Bank of Toxic Waste

  17. Lowly Assistant says:

    Yes, yes. Indeed, Charlotte is a world class city. Also, Miller High Life is the champagne of beers.

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