Uh-oh | Bank of America May Need to Raise Up $50 Billion as Stock Drops Almost 8 Percent to $6.42 : Analyst

Bank of America may need to raise up $50 billion: Analyst

Bank of America saw its stock drop almost 8 percent Monday as litigation worries weighed on the shares as well as a Jefferies analyst telling clients the bank may need to raise up to $50 billion.

BofA finished trading in New York at $6.42, down 55 cents. That was the share’s low point for the day, with almost double the number of shares changing hands on a typical day. That pushed the bank’s shares down to where they were trading at earlier this month, and before that, since March 2009.

Wells Fargo (NYSE: WFC) closed at $22.89, down 47 cents, or 2 percent. J.P. Morgan Chase (NYSE: JPM) finished at $33.41, down 94 cents, or almost 3 percent.

It didn’t help that the Mortgage Bankers Association said the number of people behind on their mortgages rose slightly in the second quarter over the first quarter, signaling another wave of housing woes for bankers.

BofA (NYSE: BAC) and shares of other big banks also came under pressure Monday over the Wall Street Journal’s report about problems major banks were facing in reaching a settlement with state attorneys general over foreclosure issues and what protection from further legal liabilities the the banks would get for a paying penalties of $20 billion to $25 billion.

“They wanted to be released from everything, including original sin,” a U.S. official told the newspaper.

You can check out the rest here…

All I can say is…

~

4closureFraud.org

Comments
17 Responses to “Uh-oh | Bank of America May Need to Raise Up $50 Billion as Stock Drops Almost 8 Percent to $6.42 : Analyst”
  1. Ron Moss says:

    Mike If you can impose in Eric Schneiderman to follow his leading to serve the people of this nation, Fire the bankers and fulfill the premonition seen by Anderw Jackson when he paid off the debt in 1835, In his 6th annual address, He said , If the American people extenuatre the present bank or ever consider the establishment of another like it” which they did in 1913 when the bought congress implemented their plan from The Creature from Jekyll Island without amandment, in violation of the constitution adopted the federal reserve act. The Mafia type banksters invaded thius free nation and are still robbing us blind. Eric and Ron Paul can bail us out.

  2. incognito123 says:

    WOW, wait a minute—– number people behind on their mortgage payments signaling woes for the bankers???? THESE MORTGAGES ARE ALREADY OFF THE BOOKS, HOW CAN IT SPELL ANY TROUBLE FOR THEM?????

    • lvent says:

      The Ponzi Schemers have to keep up the charade because they are insolvent. There is no fixing what they did. The New World Horder used their perps, the banks and all of their Wall Street minions and cohorts to ring American up with 40 trillion in debt backed by 8 trillion in real estate. They are BK upside down…..There isn’t enough stuff left to steal.. that is why someone better stop them from stealing the pension money and listen to the whistleblower because they are going to steal anything they can including the social security and medicare if we allow it.

      • lvent says:

        Let me make clear that they are BK on paper…..they stole who knows how many hundreds of trillions from Ameria and hid all of our stolen weath and all of their other ill gotten gains they earned from all of their mortgage fraud in their overseas bankster accounts…They are sheisters and crooks and they rang America up and robbed us blind. America is not broke, we were robbed and the owners of the Ponzi Schemers want to force MAINSTREET to pay for all of the fraud….

      • lvent says:

        They New World Horder wants to bankrupt America with all of the unsustainable debt their perps created…….they must be stopped…they want MAINSTREET to own nothing of value just all of THEIR unsustainable debt..BACKED BY ZERO…..Death to the fascist tyranny!!!

      • lvent says:

        Bloomberg reporting: U.S. GOVERNMENT says: PRIMARY GLOBAL CEO involved in insider trading scheme.

  3. lvent says:

    Cheers!!!!

  4. Beth A. says:

    Karma, baby.
    Time to pop up some popcorn and watch ’em crash and burn.
    I, for one, have been watching their stock each day for weeks …and it brings a smile to my face each day they dip lower.

    • Malco says:

      I have been saying this for more than a year , just a gut thing . I will bring the grill ,chairs and steaks , then why dont we go to Mass. and physically evict the boy himself and throw his things on the curb , see how that little maggot likes it ( CEO of B of A -Brian Moynihan 26 Maschusett Rd Wesselsly Hills Mass 02481-in his 3.5 million dollar home ). Yeh baby, I got all your home addresses and phone #’s , lets dance that Irish jig -you know what he looks just like the kid that got the shit knocked outta him everyday in school – I am a pro “let the kids slug it out in the schoolyard ” kinda guy , it prepares them for real life . This is a proven fact yet the lib’s must “control” you from school thru-out your life , good luck keeping this man controlled ( ME ) Peace

  5. talktotennessee says:

    Sell the corporate jets, cut salaries at the top! I warrant this is just an artificially created panic to force settlement! Watch for it and the amnesty that goes with it against liability from investors! They have the market quaking in their shoes but it doesn’t take a lot to shake up the market these days. This is another B of A sham! See how quick they recover and throw those foreclosures on the market as REOs when they are released from risk for their fraud and forgery. Frankly, we haven’t even seen the tip of the berg on fraud perpetrated by t these giant scams yet. That will be saved for after the release when the stuff really hits the fan and people find out they are all puff. Think about this people!!! Who took the hit on these bad loans and who continues to take the hit? Investors! Who owns the paper? That may be a good question but it sure isn’t B of A, Chase or Citi. They are honking loud and long to get out from under the liability.

  6. talktotennessee says:

    Didn’t B of A report a profit last quarter, paid back their loan and still paying millions in salaries, bonuses, to their CEO, CFO, etc. ad nausem? Am I just whistling here? All of a sudden, B of A is creating their own panic? I keep thinking of their offer to help Rick Perry, knowing they have money for lobbyists. The tactic of laying off thousands of people left over from WaMu and Countrywide. Maybe laying off those handling non-existent modifications? Their current smoke and mirros antics to generate sympathy and perhaps get a premature knee jerk AG settlement offer, help from the White House, all falling on deaf ears here. As the song goes, “That don’t impress me much!”

  7. Jim says:

    Do you know where I can send them a donation? …NOT!

  8. maggie May says:

    I KEEP YRLLIN U HAVE FAITH ROME WASNT BUILT IN A DAY!

Leave a Reply

Your email address will not be published. Required fields are marked *