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Oppenheimer's Whitney Dines with BofA’s Chief; Rates Stock a "Perform"

Forgive me if I am wrong, but in the statement Mr. Lewis makes “cautiously optimistic" is contradicted by an actual increase of 7% from April to May for foreclosure filings the same day this meeting took place. How could this possibly be optomistic and by what reasoning would Ms. Whitney give a rating of perform? I am willing to admit that I am not an analyst, but with all the uncertanty in this sector as well as the re-setting of ARMS in 2009 ( a potential 500 Billion dollar liability to the financial industry that has not been considered thus far) the thought of an analyst and "head of BAC" being optomistic is at least misleading if not simply wrong. Add to this the rise in unemployment, rise in commodities, labile strength of the dollar and decreasing home values does not lead to being optomistic. What it does lead to is a lack of confidence and full understanding of the economy as a whole. I feel that unless Ms. Whitney has information other than whats reported that she should inform the rest of us so we can truly understand what this optomism is all about.

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