JP Morgan May Take Over Bank Of America

[STANGGT40]

"Market perform"

i get what you're saying, but i figured that having buffett on your side is enough to add some optimism to your stock price...it worked yesterday!

[Denny]

i get what you're saying, but i figured that having buffett on your side is enough to add some optimism to your stock price...it worked yesterday!

Chances are, they needed more than just a $5B loan. They need to sell some serious assets. No one was fooled.

[Broncojohnny]

What I don't understand is if they could get that kinda coin easily from the Fed, interest free, then why get it from WB and pay him back with, what, 6% interest?

The smell is in the air.

It crucified the shorts and it gives BAC a stamp of approval that the Fed couldn't provide. These Internet bloggers can't wait to cause another Leman. They just got their nuts chopped off.

[Denny]

It crucified the shorts and it gives BAC a stamp of approval that the Fed couldn't provide. These Internet bloggers can't wait to cause another Leman. They just got their nuts chopped off.

So, the Fed, in fact, rejected giving them aid?

What about this 6% interest claim? Isn't that more than the loans they are issuing? Or is that just hogwash too?

[Broncojohnny]

Chances are, they needed more than just a $5B loan. They need to sell some serious assets. No one was fooled.

I can assure you that their balance sheet is fine if Buffett put his money on it.

[Denny]

I'm not seeing this as a good move, but I guess that's why he is where he is and I am where I am at.

[Broncojohnny]

So, the Fed, in fact, rejected giving them aid?

What about this 6% interest claim? Isn't that more than the loans they are issuing? Or is that just hogwash too?

why would anyone want fed money when they can get Buffett bucks? 6% is a small price for what those bucks do.

[Broncojohnny]

Interesting little rant about Buffett... LOL
http://www.zerohedge.com/news/wolf-sheeps-clothing

So Buffett only cares about the status quo and preserving his legacy so he is going to make an investment for political reasons for the first time ever? His status quo has been making money for BRK for decades. Makes no sense to even consider that idea unless you are balls deep in the idea that B of A was going to fail.

Even the opening quote is shit, Buffett only advocated taxing the super rich, he said people making over a million a year.

[Saleen781]

look what he did for GEICO. Buffet is now the biggest investor in B of A.....soon he will move in and make changes and you should see the bank improve over a few years. and once again Buffet will make a struggling company (or bank in this case) more successful. 6% is only scratching the surface of what his real return will be later. I had the pleasure of meeting him back in the 90's when I worked for GEICO, real nice guy..

[mstng86]

look what he did for GEICO. Buffet is now the biggest investor in B of A.....soon he will move in and make changes and you should see the bank improve over a few years. and once again Buffet will make a struggling company (or bank in this case) more successful. 6% is only scratching the surface of what his real return will be later. I had the pleasure of meeting him back in the 90's when I worked for GEICO, real nice guy..

Did you ask him where he got his shoes?

[Saleen781]

Did you ask him where he got his shoes?

he refuses to pay good money for shoes, so he gets them from goodwill.

[mstng86]

he refuses to pay good money for shoes, so he gets them from goodwill.

Cheap bastard. He should know Larry's shoes has all he needs.

[STANGGT40]

why would anyone want fed money when they can get Buffett bucks? 6% is a small price for what those bucks do.

they just paid 6% to have buffett's stamp of approval, which is about equal to attaching a jet pack to your stock. everybody saying that bac is on the brink of failure just got put in their place...who's going to argue with buffett's track record?

[Denny]

So Buffett only cares about the status quo and preserving his legacy so he is going to make an investment for political reasons for the first time ever? His status quo has been making money for BRK for decades. Makes no sense to even consider that idea unless you are balls deep in the idea that B of A was going to fail.

Even the opening quote is shit, Buffett only advocated taxing the super rich, he said people making over a million a year.

Right. Nothing but hatin' out of that one.

[mstng86]

Bank of America Agrees to Sell 13.1 Billion Shares of China Construction Bank