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[QUOTE]Originally posted by a surfer: [QB] [QUOTE]Originally posted by invester: [qb] [QUOTE]Originally posted by crazytrade: [qb] [QUOTE]Originally posted by invester: [qb] If China was smart, they would take out Bank of America for free, and then some. Instead of buying our bonds, buy BofA which has a market cap of 118 billion, but has 140 billion in cash. Now that would be something. [/qb][/QUOTE]Not sure that would make sense. sure you get the cash but you take on 450 million in long term debt and another trillion or so in other liabilities. you have to look deeper with bank cash balances. [/qb][/QUOTE]Yes...I know you have to look deeper. Most of the bad debt has either been written off, or have loan loss reserves to more than cover. Housing is set to rebound in the 1st. quarter of 2011. In one form or another, BofA does business with 50% of America. Oh ya, and how great would it look to the Chinese that they own the bank of AMERICA. Anyway you slice BofA, its cheap. Book value of over $22, tangible book of $13. That’s not even taking into account that the yield curve is sure to steapen over the next year. This will be $25 by August. Current $12.01 Mark it. [/qb][/QUOTE]What housing recovery? There will be no housing recovery. Not for another 7 years minimum....the rate of inflation will surpass home values rise for a long while. Houses are getting cheaper by the day. [/QB][/QUOTE]
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