Thursday, September 11, 2008

Another 800-Pound Gorilla, Please




Now that those exclamations are out of the way...

Bank of America might be interested in being a white knight for free-falling Lehman Brothers. Why they would consider this without a tremendous safety net (especially since it has MBNA and Countrywide messes to clean up) is completely beyond me.
Hoyazo ought to get a kick out of this.

Unless the deal was similar to JP Morgan Chase's buyout of Bear Stearns (which meant up to $29 billion in potential losses being backed by the Feds, i.e. us), I don't see how they would seriously consider an acquisition.

They've done stupid things before, though. That's why their stock price went from 51 to 17. It's back to 33, but with this deal I'd be shorting this stock if I had ANY spare change at all.

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