Tuesday, February 09, 2010

 
 
 

 
 
 
 
 
Bank of America just stole $8 billion from investors
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Wednesday, May 20, 2009
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From Zero Hedge:

800 million shares priced at $10 a pop. Very timely upgrade by Goldman Sachs yesterday.

Read full article...

Crux note: A couple of months ago this stock was below $5, but now investors are pouring into a secondary offering at $10... Have things really changed that much?

More on BofA and the great heist:

Bank of America needs $34 billion to survive

Bank of America, Citi fail stress test; need billions more

Wall Street legend Jim Chanos: Banks just pulled off one of the greatest heists of all time

Topics: Banks | Bailout | Stocks
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