icandoitdon

Bank of America Buyback Announcement: Who Cares?

it's a leap of faith to believe that CEOs or boards of directors will give you straight information. they are spin machines...nothing more. the financial graveyards are full of companies that went down denying there was ever a problem. we've seen countless denials of this type of denial from financial institutions just this year.

as for the "messages" they sent through their PR drivel, get real. wachovia sent a message in august 07 that things were dandy by raising it's dividend from $.56 to .64 pershare. a year later it's $.05 per share.

banks have notoriously bad management and they have the record to prove it. no industry has been bailed out more. don't expect them to tell you when they're in trouble.