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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (34385)5/6/2009 8:37:18 AM
From: Mark Marcellus  Read Replies (1) of 78747
 
Looks like it's not as bad as the headlines first implied. BAC is now up on the news. Among other things, the talking heads on TV are saying that this "additional" cash can be covered by the ability to convert the gov't preferred into common down the road - the actual conversion doesn't necessarily have to happen.

This is not to say that I really understand the logic behind any of this. I'm still trying to figure out how TCE is somehow a more reliable benchmark than Tier 1.
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