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Key points off the call so far from BofA's Moynihan: The franchise is sound, no capital raising...

Key points off the call so far from BofA's Moynihan: The franchise is sound, no capital raising is necessary. The bank will meet regulatory requirements by aggressively selling non-core assets, Merrill stays. Bad mortgages continue to be cleared out, with risk being lowered each quarter. BAC -5%.
Comments (2)
  • Non-core like CFC? Maybe Citi will buy it.
    10 Aug 2011, 01:59 PM Reply Like
  • >> Bad mortgages continue to be cleared out

     

    Didn't they transfer some to Fannie? So now they are on our balance sheet... great!
    10 Aug 2011, 02:12 PM Reply Like
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