Home » Most Recent Stories

B OF A TO SELL 1.25B COMMON SHARES

7 May 2009 by Cullen Roche 5 Comments

Next in line to sell shares to a bunch of suckers: Bank of America!  It’s amazing how this is playing out like I said it would.  Almost surreal.  And investors are falling for it hook line and sinker.  You think the banks are healthy?  Just wait six months.Let’s hope for the good of the country that this economic recovery is the real deal because if it isn’t we’re going to see mass nationalizations in the coming 12 months….

Link: B of A to sell 1.25B shares.

Update – Looks like Regions Financial, Morgan Stanley and Citi are also selling shares.  Unbelievable.

Cullen Roche

Cullen Roche

Bio - Coming Soon.

More Posts - Website

Follow Me:
TwitterYouTube

Disclosures - Unless otherwise noted, authors have no positions in any securities mentioned and readers should never consider this to be investment advice. Always consult your financial advisor before acting on any ideas. Comments Guideline - Readers who denigrate authors or other readers will be banned without warning. This site does not tolerate any sort of reader abuse. The goal of this site is to create an environment that is conducive to learning and better understanding of the monetary system and the investment world. We expect readers to behave maturely and responsibly. We welcome and encourage intense and intelligent discourse, but the site adheres to a strict 1 strike policy. While it is your right to speak freely, it is not your right to behave childishly. Above all else, please enjoy the site. It is intended to be used as an educational tool and we hope the intelligent and mature debate will further that purpose. We hope readers will make an effort to respect that goal. Comments with excessive linking or foul language will be moderated before posting.
Comments
  • Onlooker

    It is very comical how investors are lining up to buy these bank and REIT shares while getting diluted and given the balance sheets. I guess it's better than taxpayer money, but you just know the John Q. Public is going to take some of it in the rear through their mutual funds in IRAs, 401ks, etc.

    05/07/2009 at 8:54 PM
    • prescient11

      Agreed, who is buying this shit. SPG just issued some shares at $30, and now they issue millions more at $50, and this is some type of “deal”??? Proper entry on skf might be called for very soon.

      05/07/2009 at 8:59 PM
  • reddweb

    This is a good thing right? Let the idiot “investors” take the loss (for once?), instead of taxpayers in future.

    05/07/2009 at 9:21 PM
  • eh

    If the Fed keeps buying govt debt to make damn sure interest rates stay low then banks may be able to operate profitably enuf to lure buyers for these share offerings. And obviously if they can get enuf capital this way then the severity of the problems is lessened.

    05/08/2009 at 3:02 AM