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BAC
Bank of America Corporation

5/25/2012, 10:17 AM ET
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BAC Market Currents more »
  • 9:05 AM With a record of poor shareholder returns, why do the TBTF banks (JPM, C, BAC) even exist, writes Sheila Bair. Capital markets certainly wouldn't finance such "unstable behemoths" if it weren't for their de facto government backstop. Jamie Dimon can provide a better return to shareholders by recognizing his bank is worth more in smaller pieces.
    6 Comments
    [Financials]
  • 6:54 AM Lehman Brothers (LEHMQ.PK) confirms a report that it has agreed to buy the 26.5% stake it doesn't own in Archstone from Bank of America (BAC) and Barclays (BCS) for $1.58B. As expected, Sam Zell's Equity Residential (EQR), which was also battling for the apartment giant, will receive a $150M break-up fee from Lehman and the two banks.
    Comment!
    [M&A, Top Stories]
  • Thursday 6:16 PM Lehman Brothers (LEHMQ.PK) strikes a deal to buy the 26.5% stake it doesn't already own in apartment giant Archstone from BofA (BAC) and Barclays (BCS) for $1.58B, WSJ reports, ending the high-stakes chess game between Lehman and Sam Zell's Equity Residential (EQR). But Zell won't walk away empty handed, as his firm will get $150M in the deal.
    7 Comments
    [Financials, M&A]
  • Wednesday 4:22 AM BofA (BAC) will buy back $330M of home loans from Freddie Mac (FMCC.OB) after flaws were found in how the loans were created. Though a relatively small re-purchase, the bank's overall costs tied to defective home loans have totaled more than $42B so far.
    8 Comments
    [Financials]
  • Monday 12:24 PM The FDIC sues JPM, C, BAC, and DB in New York, acting as receiver for Strategic Capital Bank which claims $11M in losses in MBS-related losses.
    3 Comments
    [Financials]
  • Monday 8:10 AM JMP Securities cuts the TBTF banks due to the European crisis, with analyst David Trone's base case scenario (60% chance) seeing a Greek exit, but no contagion. He sees just a 10% chance Greece stays in the EMU. That leaves 30% for exit, but with contagion.
    3 Comments
    [Financials]
BAC in Focus more »
BAC News more »
BAC Instablog posts more »
  • Saturday Update: Investing Wisely – Forecasts / Conformations = Results ! - - May 26, 2012
    Fri, May 25 • Steven Bauer • Comment!
  • I Sold Everything Today And I’m Now 100% Cash. The Reasons For This....
    Tue, May 22 • Garfield23 • 1 Comment
  • Which One Is Safest In The Big Four Banks
    Mon, May 21 • Weiren Ji • 2 Comments
  • Facebook – Which Forex Firms Use It Best?
    Mon, May 21 • gersegal • Comment!
  • Trefis: Review Week Ending 18 May 2012
    Mon, May 21 • John Lounsbury • Comment!
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Company Description

Bank of America Corporation (together, with its consolidated subsidiaries, Bank of America, the Corporation, our company, we or us) is a Delaware corporation, a bank holding company and a financial holding company under the Gramm-Leach-Bliley Act. Our principal executive offices are located in... More