Bank of America stock dropping thru floor, now at 6.80-ish and falling.

[dixiegrrrrl]

Closed at 8.17 Friday, down from 15.31 in 12 months.

Sure looking like WaMu, methinks.
what say you?

[WolverineDG]

1. Aw, poor widdle BoA

:rofl:

dg

[RKP5637]

2. BOA should be nationalized and taken apart IMO. It's a creepy outfit IMO. n/t

[CountAllVotes]

5. they are creeps

The last time I had anything to do with them was when my mother passed away. She had an account there and they treated me like a criminal (I had power-of-attorney and she was in a 24-hr. care home and the bills needed to be paid out of her acccount).

When she passed away I went back to close out the account. They begged me to "let us invest this money for you". I told them to cut me out a check and that I hope they go broke given the way they treated me.

They were shocked I tell you, shocked.

May Bank of America RIP. They did it to themselves!

:kick:

[RKP5637]

6. I dumped everything with them some years ago and they begged and begged

me to stay with them. I politely told them F you. Who in their right mind would stay with you with your reputation.

[bemildred]

AIG sues Bank of America for $10 billion over mortgages

NEW YORK — Insurer AIG wants more than $10 billion from Bank of America, saying the bank cheated it by selling it overvalued mortgage-backed securities.

American International Group (AIG) filed suit Monday in New York State's Supreme Court.

Bank of America (BAC) denies the allegations, saying AIG "recklessly" chased investments with high returns, and was big and sophisticated enough to know the risks.

Banks have been hit by a series of suits over misrepresentations related to the securities. In June, Bank of America agreed to pay $8.5 billion to a group of investors for selling them poor-quality mortgage securities.

:popcorn:

http://www.usatoday.com/money/industries/banking/2011-08-08-bank-of-america-lawsuit_n.htm

[truedelphi]

8. Like AIG didn't get 17 or 18 times that amount from

All the Bailout monies.

Though I can't say it isn't fun to watch the people behind the curtain tearing each other apart.

[bemildred]

9. I don't care, I like it when they fight with each other.

I feel safer somehow when the big money boys are at each others throats, instead of looking for new ways to screw me.

[truedelphi]

10. Unfortunately, the Big Money People are quite good at

Multi-tasking. It is not at all hard for them to screw us while screwing each other.

[bemildred]

11. They seem to be good at bankrupting the businesses they run too. nt

[aquart]

3. It's so wrong to enjoy this.

But could it be they're sharing the sacrifice?

[dixiegrrrrl]

4. LOL!!!!!!!!!!!!!!

Indeed.

burn baby burn

[truedelphi]

7. K & R the topic while I

Join you in the "Burn Baby burn" routine.

[bemildred]

12. Bank of America's Latest Day From Hell

NEW YORK (TheStreet) -- Bank of America(BAC) shares plunged 20.07% Monday, as investor concerns continued to snowball amid a market selloff, a lawsuit from AIG(AIG) and the sale of more than seven million shares by hedge fund Appaloosa Management.

Analysts including Citigroup's Keith Horowitz defended the stock , though CLSA's Mike Mayo downgraded the stock arguing the bank may need to raise equity, according to a report in The New York Times.

Appaloosa Management, the multibillion dollar hedge fund run by former Goldman Sachs trader David Tepper, sold his Bank of America(BAC), sold more than 7 million shares, reducing its stake to 10 million shares as of the end of June, according to a filing with the Securities and Exchange Commission Monday. A person close to the fund says Appaloosa has cut its stake further since that time.

AIG says in its lawsuit, filed in New York State court Monday, that fraud by Bank of America and Countrywide cost AIG some $10 billion in losses on $28 billion in residential mortgage backed securities (RMBS) investments. AIG is seeking to recoup at least that amount.

http://www.thestreet.com/story/11214229/1/bank-of-americas-latest-day-from-hell.html