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Wow72

Wow72
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  • Bank Of America: The Deal Is Done [View article]
    1.5 Trillion in assets with a capital "T" is something you can very well take a broad look at to see the value. CW was started in 1969 and not recently and the "Hustle" loans only represent 5 billion dollars I believe, very small compared to the total. It gives a birds eye view of the potential. People see CW for the company it ended up as not the company it was for years before all of this.
    Aug 21 04:55 PM | Likes Like |Link to Comment
  • Bank Of America: The Deal Is Done [View article]
    StockBet.com,

    It was 1.5 trillion in assets for around 79 to 80 billion dollars how is that a bad deal?
    Aug 21 06:22 AM | Likes Like |Link to Comment
  • BoA Expected To Pay $16bn To U.S. Regulators: What Does It Mean For Shareholders? [View article]
    Our government does not understand that right now every little bit helps, but they keep getting their checks so how would they know?
    Aug 14 07:41 AM | Likes Like |Link to Comment
  • BoA Expected To Pay $16bn To U.S. Regulators: What Does It Mean For Shareholders? [View article]
    Our government does not understand that right now every little bit helps, but they keep getting their checks so how would they know?
    Aug 14 07:41 AM | Likes Like |Link to Comment
  • BoA Expected To Pay $16bn To U.S. Regulators: What Does It Mean For Shareholders? [View article]
    Wrongwrong,

    The only thing tying this bank up and not letting it pay out and get back on its feet will do is create more situations like Ferguson Missouri.

    Keep preventing banks from paying out? Its really good for our economy! Some things are bigger than our ego's, but our government doesn’t understand that, lets start training our military to protect our government because they are going to need it!
    Aug 14 07:18 AM | Likes Like |Link to Comment
  • Merrill Lynch And Countrywide Financial: Huge Thorns In The Side Of Bank Of America [View article]
    What was the real default rate on Countrywides 1.5 trillion portfolio of loans? Was it 70 percent? was it 50? was it 30? It still leaves an unbelievable amount of money!
    Aug 5 08:19 PM | Likes Like |Link to Comment
  • Merrill Lynch And Countrywide Financial: Huge Thorns In The Side Of Bank Of America [View article]
    This article states http://bit.ly/1v7RL72 That when BofA acquired CW their value was 1.5 trillion with over 9 million mortgages. Lets see 4.1 Billion to buy another lets say 75 billion in legal fees for a total of aprox 79 billion for 1.5 trillion in assets, even if only thirty percent of those assets are good that is a huge sum of money? is it me? Everyone says it was a bad deal, it seems like the deal of the century. Don states the default rate was around 25%. I know on the hustle loans I believe defaults were around 60% to be fair. Still anything over 30% left is a huge deal and 50% would be unreal.

    You will hear they got stuck with a ton of servicing fees, but refinance fees I believe would have taken care a good part of that. Maybe Im way off, but this has seemed really obvious for a while now. Its just not the message the government wants to get around. I believe BAC took risk and they will be rewarded

    The only question I have if that 1.5 billion includes amortization? If not the 1.5 trillion becomes a multiple.
    Aug 5 05:02 PM | Likes Like |Link to Comment
  • What Bank Of America Shareholders Might Be Missing [View article]
    The money should reappear or accrue as a wave of payments mostly through refinance, I believe. Thats why most consider it a "long" I believe. It just depends on how many were good and when you look at CWs default rates in different areas there were some extremes but nothing was close to 100% I remember reading that these guys stated they were going to take the punishment but it was just too good to pass up, no matter what the punishment was.
    I want to make clear no one really knew at the time what the value of CW was and really there has never been a clarification for obvious reasons. I just personally believe it wasnt as bad as everyone thinks and they may have been able to save many loans through refinance. I believe it gives BofA a 1/4 of all mortgages in this country.

    This is my opinion.
    Aug 5 08:18 AM | Likes Like |Link to Comment
  • What Bank Of America Shareholders Might Be Missing [View article]
    Actually, I believe the number was 1.4 trillion. Some money must be still coming in as monthly payments from mortgages or refinances since the take over.

    Here is a reference http://bit.ly/1v5U62q
    Aug 5 07:14 AM | Likes Like |Link to Comment
  • What Bank Of America Shareholders Might Be Missing [View article]
    Im sorry but Im so sick of the Banks Numbers, its a good value in my opinion and the one that I believe everyone under estimates and misses is CW. Everyone will think Im crazy on this, but its right in front of everyone, I believe. On the day BofA took it over a wiki article that has since disappeared from the web stated CW had a trillion dollars in assets, CW was a company that was started in 1969 and only towards the end had major integrity issues. This is simple math. BofA bought them for 4 billion, the government has sued them for lets say 70 billion. If a third of CWs assets were good? which is the real question.... that would be aprox. 300 billion minus 74 equals around 226 billion plus any amortization. What if it was closer to 50%? They haven’t filed CW for bankruptcy? These are bankers we are talking about, it must have been a whale of a deal! I think its what the government is so pissed about, they want some. The question is how much was CW really worth and where did the money go? Now start adding Merrill
    Aug 5 06:30 AM | Likes Like |Link to Comment
  • What Bank Of America Shareholders Might Be Missing [View article]
    Do you know why BAC went to 5.00 a share? Because the FED, Ben said they couldn’t raise their dividend and not because of anything fundamental. That is an effect. Its sad so few can have such influence especially when "Free" Trade Policy was a huge culprit of this crisis. I would like to see mathematically the financial damage BAC supposedly did to the country, when most of it was CW. Moynihan has remained a rock through all of this. The government should be grateful they are dealing with such a capable individual. The government I believe is nothing but smoke and mirrors or not telling the truth as to what the bank has been doing? When you say structural what do you think about the US wages companies used to pay now going to foreign countries? "Free" Trade? Trickle down is not happening any more. Where is labor's protection from technology? There is none. Where is our government in all this? Engorged in BAC!
    Aug 4 03:58 PM | Likes Like |Link to Comment
  • What Bank Of America Shareholders Might Be Missing [View article]
    Wart
    Your Comment: "I do not address the issue of politics because this is not a political forum, but as you have raised the role of government on economics and financial markets I will address your points as a matter of fact."

    If you dont consider politics in your investing your missing 1/2 the ballgame. Politics has everything to do with the economy and effect to the economy. A short position based on "Free" Trade made many a millionaire. If we dont address politics we miss most of the picture these days, I wish it was less, but thats just how it is right now. I wish they would get out of it myself. Investing is at least a 3D proposition, every angle should be considered.
    Aug 4 02:09 PM | Likes Like |Link to Comment
  • Bank Of America: The 'Flat Yield Curve' Myth Debunked [View article]
    6012571,
    I agree, once we take the rose coloured glasses off and look inside, its not pretty at all. The way our government handled FNMA and FMCC made making bad investments look like a good thing to do. And because of it, the shareholders who have really suffered have received no substantial dividend to date, while tax payer money was used to keep these guys afloat. Its awful how our government has prioritized this process. Amateur to say the least. I certainly would not call it justice served or even remotely close to anything I would call justice.
    Aug 4 07:18 AM | Likes Like |Link to Comment
  • NYT: BofA blinks in DOJ settlement talks [View news story]
    Its funny Wrongwrong, not very many people think they way you do! Thats what I think! AND FOR THE RECORD IT WAS MOSTLY CW! You guys are nothing but engorged ticks on the ass of progress! Sucking the life blood from our country!
    Just remember CHIRAQ!
    Aug 1 07:28 AM | 2 Likes Like |Link to Comment
  • Update: Bank Of America Is Teetering On U.S. Court Action [View article]
    I see everyone is catching a golden egg today! Take that money the government gives you! and comment, comment away! The only reason this bank will do bad is because we have a government that is hell bent on doing unjust things to it. Most of these settlements have nothing to do with BAC and everything to do with CW. I cant wait to vote for change... VOTE FOR CHANGE PEOPLE and Get rid of the DEMs and this bank will shoot to the moon. I voted for them, which couldn’t have been a clearer mistake. The government is holding on by its finger nails at this point and we need to continue to kick them until they fall off like the unwanted bloated tick they have become. We need change, this government is only doing harm and not changing any of the ways these banks do business. Our government is a pathetic JOKE!
    Aug 1 06:28 AM | 2 Likes Like |Link to Comment
COMMENTS STATS
426 Comments
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