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LA_Renter.
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February 24, 2008 at 11:25 PM #159681February 24, 2008 at 11:27 PM #159303
CoronitaParticipantYou know..I did call this a few posts ago… Let me dig the thread up…
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
February 24, 2008 at 11:27 PM #159596CoronitaParticipantYou know..I did call this a few posts ago… Let me dig the thread up…
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
February 24, 2008 at 11:27 PM #159613CoronitaParticipantYou know..I did call this a few posts ago… Let me dig the thread up…
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
February 24, 2008 at 11:27 PM #159619CoronitaParticipantYou know..I did call this a few posts ago… Let me dig the thread up…
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
February 24, 2008 at 11:27 PM #159691CoronitaParticipantYou know..I did call this a few posts ago… Let me dig the thread up…
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
February 24, 2008 at 11:30 PM #159308CoronitaParticipantAh yes, found the thread.
http://piggington.com/bank_of_america_to_buy_countrywide_for_4billion
…See my comment 4-5th down…Reposted here…
——
The biggest question here is: Did BofA guess right, or wrong? The acquisition was at a considerable discount from the previous market cap, but the company is in disarray, with many thinking the worst is yet to come. It will be interesting to see how this plays out.
My guess is that they won't be doing the cleanup without assistance from the Gov. I'm sure they'll get some deal from the Fed. Fed will just use BofA as a proxy to do the toxic cleanup. I wasn't kidding in the previous post about all BofA doing "one time restructing charges" for the next couple of quarters or years….They'll just keep playing the game "we beat estimates before the one time charges", but here are the one time charges related to the CFC acquisition. You spread the loss over a couple of quarters over a few years, with the assistance of cash infusion from Fed or foreign companies ,possibly sell off some of this toxic waste at a huge discount to offshore investors, and in a few years, problem magically goes away. Lol….
They're already starting to play this game:
Bank of America expects a $1.2 billion restructuring charge from the transaction, and said it will need a couple of billion dollars of new capital to help preserve its capital ratios.
The next time, it will be another 1.2 billion. Do this across 8 quarters, you got a nice 10.6 billion in charges you just passed through over the course of 2 years, while still being able to look great to wall street ("it was only the one time restructuring charges".) This would be great for BofA to clean their own house too, everything bad is related to the restructuring.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
February 24, 2008 at 11:30 PM #159601CoronitaParticipantAh yes, found the thread.
http://piggington.com/bank_of_america_to_buy_countrywide_for_4billion
…See my comment 4-5th down…Reposted here…
——
The biggest question here is: Did BofA guess right, or wrong? The acquisition was at a considerable discount from the previous market cap, but the company is in disarray, with many thinking the worst is yet to come. It will be interesting to see how this plays out.
My guess is that they won't be doing the cleanup without assistance from the Gov. I'm sure they'll get some deal from the Fed. Fed will just use BofA as a proxy to do the toxic cleanup. I wasn't kidding in the previous post about all BofA doing "one time restructing charges" for the next couple of quarters or years….They'll just keep playing the game "we beat estimates before the one time charges", but here are the one time charges related to the CFC acquisition. You spread the loss over a couple of quarters over a few years, with the assistance of cash infusion from Fed or foreign companies ,possibly sell off some of this toxic waste at a huge discount to offshore investors, and in a few years, problem magically goes away. Lol….
They're already starting to play this game:
Bank of America expects a $1.2 billion restructuring charge from the transaction, and said it will need a couple of billion dollars of new capital to help preserve its capital ratios.
The next time, it will be another 1.2 billion. Do this across 8 quarters, you got a nice 10.6 billion in charges you just passed through over the course of 2 years, while still being able to look great to wall street ("it was only the one time restructuring charges".) This would be great for BofA to clean their own house too, everything bad is related to the restructuring.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
February 24, 2008 at 11:30 PM #159618CoronitaParticipantAh yes, found the thread.
http://piggington.com/bank_of_america_to_buy_countrywide_for_4billion
…See my comment 4-5th down…Reposted here…
——
The biggest question here is: Did BofA guess right, or wrong? The acquisition was at a considerable discount from the previous market cap, but the company is in disarray, with many thinking the worst is yet to come. It will be interesting to see how this plays out.
My guess is that they won't be doing the cleanup without assistance from the Gov. I'm sure they'll get some deal from the Fed. Fed will just use BofA as a proxy to do the toxic cleanup. I wasn't kidding in the previous post about all BofA doing "one time restructing charges" for the next couple of quarters or years….They'll just keep playing the game "we beat estimates before the one time charges", but here are the one time charges related to the CFC acquisition. You spread the loss over a couple of quarters over a few years, with the assistance of cash infusion from Fed or foreign companies ,possibly sell off some of this toxic waste at a huge discount to offshore investors, and in a few years, problem magically goes away. Lol….
They're already starting to play this game:
Bank of America expects a $1.2 billion restructuring charge from the transaction, and said it will need a couple of billion dollars of new capital to help preserve its capital ratios.
The next time, it will be another 1.2 billion. Do this across 8 quarters, you got a nice 10.6 billion in charges you just passed through over the course of 2 years, while still being able to look great to wall street ("it was only the one time restructuring charges".) This would be great for BofA to clean their own house too, everything bad is related to the restructuring.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
February 24, 2008 at 11:30 PM #159623CoronitaParticipantAh yes, found the thread.
http://piggington.com/bank_of_america_to_buy_countrywide_for_4billion
…See my comment 4-5th down…Reposted here…
——
The biggest question here is: Did BofA guess right, or wrong? The acquisition was at a considerable discount from the previous market cap, but the company is in disarray, with many thinking the worst is yet to come. It will be interesting to see how this plays out.
My guess is that they won't be doing the cleanup without assistance from the Gov. I'm sure they'll get some deal from the Fed. Fed will just use BofA as a proxy to do the toxic cleanup. I wasn't kidding in the previous post about all BofA doing "one time restructing charges" for the next couple of quarters or years….They'll just keep playing the game "we beat estimates before the one time charges", but here are the one time charges related to the CFC acquisition. You spread the loss over a couple of quarters over a few years, with the assistance of cash infusion from Fed or foreign companies ,possibly sell off some of this toxic waste at a huge discount to offshore investors, and in a few years, problem magically goes away. Lol….
They're already starting to play this game:
Bank of America expects a $1.2 billion restructuring charge from the transaction, and said it will need a couple of billion dollars of new capital to help preserve its capital ratios.
The next time, it will be another 1.2 billion. Do this across 8 quarters, you got a nice 10.6 billion in charges you just passed through over the course of 2 years, while still being able to look great to wall street ("it was only the one time restructuring charges".) This would be great for BofA to clean their own house too, everything bad is related to the restructuring.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
February 24, 2008 at 11:30 PM #159696CoronitaParticipantAh yes, found the thread.
http://piggington.com/bank_of_america_to_buy_countrywide_for_4billion
…See my comment 4-5th down…Reposted here…
——
The biggest question here is: Did BofA guess right, or wrong? The acquisition was at a considerable discount from the previous market cap, but the company is in disarray, with many thinking the worst is yet to come. It will be interesting to see how this plays out.
My guess is that they won't be doing the cleanup without assistance from the Gov. I'm sure they'll get some deal from the Fed. Fed will just use BofA as a proxy to do the toxic cleanup. I wasn't kidding in the previous post about all BofA doing "one time restructing charges" for the next couple of quarters or years….They'll just keep playing the game "we beat estimates before the one time charges", but here are the one time charges related to the CFC acquisition. You spread the loss over a couple of quarters over a few years, with the assistance of cash infusion from Fed or foreign companies ,possibly sell off some of this toxic waste at a huge discount to offshore investors, and in a few years, problem magically goes away. Lol….
They're already starting to play this game:
Bank of America expects a $1.2 billion restructuring charge from the transaction, and said it will need a couple of billion dollars of new capital to help preserve its capital ratios.
The next time, it will be another 1.2 billion. Do this across 8 quarters, you got a nice 10.6 billion in charges you just passed through over the course of 2 years, while still being able to look great to wall street ("it was only the one time restructuring charges".) This would be great for BofA to clean their own house too, everything bad is related to the restructuring.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
February 24, 2008 at 11:51 PM #159337SD Realtor
ParticipantFLU I think B of A played the hand perfectly. Somehow it all seems very predictable doesn’t it? I think we even had a thread about this where we did predict such action when the BA CWC deal went down. To lazy to dig it up.
Dealhunter agreed that there is lot’s of blame to go around. So let the players all work it out between themselves. My tax money still needs to build bridges to nowhere.
and yeah I have sent mucho mails and faxes to my ever so helpful elected officials.
SD Realtor
February 24, 2008 at 11:51 PM #159634ParticipantFLU I think B of A played the hand perfectly. Somehow it all seems very predictable doesn’t it? I think we even had a thread about this where we did predict such action when the BA CWC deal went down. To lazy to dig it up.
Dealhunter agreed that there is lot’s of blame to go around. So let the players all work it out between themselves. My tax money still needs to build bridges to nowhere.
and yeah I have sent mucho mails and faxes to my ever so helpful elected officials.
SD Realtor
February 24, 2008 at 11:51 PM #159648ParticipantFLU I think B of A played the hand perfectly. Somehow it all seems very predictable doesn’t it? I think we even had a thread about this where we did predict such action when the BA CWC deal went down. To lazy to dig it up.
Dealhunter agreed that there is lot’s of blame to go around. So let the players all work it out between themselves. My tax money still needs to build bridges to nowhere.
and yeah I have sent mucho mails and faxes to my ever so helpful elected officials.
SD Realtor
February 24, 2008 at 11:51 PM #159655ParticipantFLU I think B of A played the hand perfectly. Somehow it all seems very predictable doesn’t it? I think we even had a thread about this where we did predict such action when the BA CWC deal went down. To lazy to dig it up.
Dealhunter agreed that there is lot’s of blame to go around. So let the players all work it out between themselves. My tax money still needs to build bridges to nowhere.
and yeah I have sent mucho mails and faxes to my ever so helpful elected officials.
SD Realtor
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