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Non-Tech : Bank of America

BAC 51.56

+1.1%

Nov 21 4:00 PM EST

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From: Keith Feral	10/27/2009 9:44:50 AM
	Read Replies (1) of 4366

Citi is pounding the table on BAC, suggesting any capital raise would be an offensive move as opposed to a defensive move after the stress test. I honestly don't care when BAC repays TARP. Given the exec comp restrictions, I think the insiders have to be very sensitive to the fact that early repayment of TARP would only serve the interests of the 25 people that will be facing 90% paycuts until the money is paid back. The thought of BAC raising more capital with most of the 1 time charges out of the way is ridiculous. Now, they just have to sit back and work through the consumer loan losses for another couple quarters. Case Shiller shows that housing price declines have pretty much run their course, and any expected future loss in home prices would be probably limited to 1%, at least that's the figure than FNM is using. So, are we supposed to be dumb enough to support a secondary just so that mgmt gets to go back to full salary in the first quarter. I hope BAC is forced to earn their way back to profitability before they repay TARP. I

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