B of A earns 6.2 billion in third quarter

[GhostTX]

You misread that. They lost $7.3billion in the same quarter last YEAR.

Just picking nits..

Meh...either way...seems like the sentiment is to beat down companies making money (as long as it's legal).

[Broncojohnny]

I read a piece earlier that they probably would have broke even without all the special charges and release of reserves. I like how people ignore the special items to suit whatever their inclination may be.

They aren't going to make any money until interest rates come back up. That is going to take a while but I don't mind waiting.

I thought it was funny yesterday that Wells Fargo missed by $.01 and the shares sold off 8-9%. Interesting times to say the least.

[01vnms4v]

they will earn more since they want $5 every month you use your debt card

[Denny]

I apologize...

I take it all back, B of A is an upstanding financial institution.

Bank Of America Forces Depositors To Backstop Its $53 Trillion Derivative Book To Prevent A Few Clients From Departing The Bank

http://www.zerohedge.com/news/bank-america-forces-depositors-backstop-its-53-trillion-derivative-book-prevent-few-clients-dep

FDIC and US Federal Reserve Bank fight over the Bank of America's move to insure investor risky bets with customer deposits

http://www.bloomberg.com/news/2011-10-18/bofa-said-to-split-regulators-over-moving-merrill-derivatives-to-bank-unit.html

Federal Reserve and Bank of America Initiate a Coup to Dump Billions of Dollars of Losses on the American Taxpayer

http://www.zerohedge.com/contributed/federal-reserve-and-bank-america-initiate-coup-dump-hundreds-billions-dollars-losses-ame

Blatant theft is the only way to go. Pass your losses to us, the tax payers, because the fees you charge people and the higher interest you bless us with over your free loans given to you by the Fed are just not enough. B of A deserves more. Let's let them take it.

[Broncojohnny]

I stopped reading zerohedge when I discovered stories posted which predict the future and then turned out to be blatantly wrong magically disappear.

[Denny]

Ya, I like to pick and chose my sources too. LOL

Any comment on the B of A CDS shuffle?

[abecx]

I just transfer money to my account, its np.

[Forever_frost]

This is good to hear. My stocks are rocking and rolling

[Denny]

Federal Reserve Now Backstopping $75 Trillion Of Bank Of America's Derivatives Trades

http://dailybail.com/home/holy-bailout-federal-reserve-now-backstopping-75-trillion-of.html

So wait, how can they do this if they don't even have $75 trillion?

http://www.federalreserve.gov/releases/h41/Current/

"The Federal Reserve will not monetize the debt."
Ben Bernanke

[mstng86]

So Denny, are you done trying to take out JPMorgan? Its on to BofA now?

[slow99]

So wait, how can they do this if they don't even have $75 trillion?

http://www.federalreserve.gov/releases/h41/Current/

"The Federal Reserve will not monetize the debt."
Ben Bernanke

Because you don't understand derivatives and notional values.

[Denny]

So Denny, are you done trying to take out JPMorgan? Its on to BofA now?

Dimon can go to hell as well.

Because you don't understand derivatives and notional values.

Of course that's what it is. I bet everything is legit and hunky-dorie.

[Denny]

VIC Issues Bank Of America As "Terminal Short" Thesis

http://www.zerohedge.com/news/vic-issues-bank-america-terminal-short-thesis

Document

http://www.scribd.com/fullscreen/69599523

[Denny]

[Broncojohnny]

We have been headed for a Lehman Bros. moment in Europe for about eighteen months now. I never thought the world would end so slowly.

LOL at the story about B of A having $75 trillion in derivatives exposure. I guess I have about half a million dollars myself in that case. If the stock market figures out a way to crash to zero and go through the roof at the same time, I'll be fucked!