Seeking Alpha

Bruce Krasting » Comments » BAC-PL

  • High Marks to Bernanke and Fed for 'Managing' Stress Test News [View article]
    Told you:

    www.nytimes.com/reuter...
    May 12 06:48 am |Rating: 0 0 |Link to Comment
  • High Marks to Bernanke and Fed for 'Managing' Stress Test News [View article]
    Carolina 1954:

    This from today's FT on the CCB sale:

    "Bank of America will be free to pare a third of its 16.7% stake in China Construction Bank Thursday following the expiration of a lockup period.

    The Financial Times reported Tuesday, citing people familiar with the matter, that Bank of America is considering selling an $8 billion stake in China Construction Bank within days, a move that would relieve some of the pressure on its battered balance sheet."


    As for the Private Pref, it is trading at 17 or 60% of original par. It is busted pref. The holders want out of this. A significant amount will be converted to common as in the Citi deal.

    As for new sales of BoA common, well I doubt it....
    May 07 07:49 am |Rating: +1 -1 |Link to Comment
More on BAC-PL by Bruce Krasting
Comments by Ticker
Bruce Krasting's
Comments Stats
181 comments
Rating: 226 (338 - 112 )