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[QUOTE]Originally posted by invester: [QB] [QUOTE]Originally posted by Free Muney: [qb] invester, i am currently holding a ton of bac for the stimulus announcement for the record. BUT, in an effort to remain objective, i worry that the acquisitions are as much of a detriment as they are valuable...all of bac's acquisition's namely Merrill and COF were companies that were bleeding bad. and now they are bleeding on bac's books... so unless this stimulus actually in one fell swoop solves banks problems(not likely) it could seriously devalue bac's share price(as well as absorb some of the cash on hand, assets, etc). In addition, being as large a company as bac is, problems with its new companies will take considerable time to repair and coordinate with bac's current operations to create synergy and profitability in the future. Increasing exposure during this massive banking debacle could end up being costly in the near term is all i'm trying to say. Disagree? [/qb][/QUOTE]If you were to listen to the interview with Maria Bartiromo, he stated "Country wide financial is on Fire with there business" his words not mine. He also stated that Merrill Lynches question was a good thing. I happen to agree with him. They have an asset base over $1.6 trillion. Its the best brokerage firm in America. The problem with most Americans is that we are not forward looking. We’ve hit a major bump in the road, but to own the biggest and best brokerage firm and mortgage giant in 2 years will be HUGE for BofA. Ken Lewis also said that he doesn't need any more tarp, and has plans to pay back the existing loan in under 2 years. I think he's a pioneer, and shouldn't be condemned for a mere mark to market accounting flaw. BofA is for me. [/QB][/QUOTE]
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