Matt Phillips over at WSJ MarketBeat just posted some analyst takeaways from Bank of America’s TARP repayment announcement. Here’s Goldman’s take (they are bullish on BAC): Goldman Sachs: “BAC’s share count is now “set” at around 10 billion shares which should have a positive impact on the market implied discount rate (which we estimate at…
Bank of America
Bank of America: "I Told Ya I Was Good For It"
What a way to make an exit! From DealBook: Bank of America said late Wednesday that it would repay its entire $45 billion in government bailout money before the end of the year…“We appreciate the critical role that the U.S. government played last fall in helping to stabilize financial markets, and we are pleased to…
The Reformed Broker for Bank of America CEO
After much soul searching and consumption of Skittles over the weekend, I’ve decided to formally throw my hat in the ring for the position of Bank of America CEO. Frankly, folks, this is the easiest job in finance right now – akin to taking over an NFL franchise the year after it goes 0 and…
Hot Links: Insolvency, Google Facts & the TradeBot3000
Stuff I’m Reading this Morning… The Fly notes how cranky the Goldman TradeBot3000 must have been yesterday. (iBankCoin) Bank of America is now searching for CEOs in New York, could it be you they’re looking at? (DealBook) India’s central bank buys $6.7 billion worth of gold from the IMF. (Bloomberg) 10 things you probably didn’t…
Keeping It Real: Dow Broke 10k Because IBM Didn't Split Too Often
All of my fellow bloggers are gonna do their Dow 10k pieces today, so I may as well join the cacophony… I’ve learned two important lessons from the thousands of hours of Hip Hop music I’ve consumed… 1. “Kings lose crowns but teachers stay intelligent” – KRS-One 2. Always “keep it real” – Various Artists…
The Fearsome Foursome Hits the Links
Dear Kenny, Glad you could make it out with us today. Don’t worry about your scores on this round, you’ll have plenty of time to improve! CUL8R, Stan the Man
They Won't Have Ken Lewis To Kick Around Anymore
The big breaking news this evening is the resignation of Bank of America‘s embattled CEO Ken Lewis (damn, I’ve had to type the phrase “embattled CEO” a lot this year) which will take effect on January 1st. There was plenty of speculation that this would happen as investigations into the Merrill acquisition scandal began to…
Merrill Lynch, Apparently, Committed Suicide
Thanks to my pal The Epicurean Dealmaker‘s incredible Supermassive Black Hole post, I learned a great deal more about why some investment banks survived the credit meltdown and others didn’t. My key takeaway from this must-read piece is that Merrill Lynch had a Death Wish. See that crazy-ass blue line really going for it through…
Ken Lewis: Should I Stay or Should I Go (reprise)
[youtube=http://www.youtube.com/watch?v=bYxkvAwIjzQ] With trouble coming from both the SEC and the NY Attorney General over the Merrill Lynch acquisition, Ken Lewis is faced with a big decision – should he stay or should he go as CEO of Bank of America? With apologies to the late Joe Strummer, here’s Kenny doing his rendition of The Clash‘s…
The Incredible Shrinking Finance Sector
This is very cool. The New York Times put up a moving infographic that shows the progression of the 29 largest financial firms and how they first shrank since 2007 and then began to grow again. The graph above shows them from the starting point at the market’s peak in October 2007. The one below…
