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Non-Tech : Bank of America

BAC 52.97

+0.7%

Jan 16 4:00 PM EST

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To: Qualified Opinion who wrote (1935)	1/29/2010 2:40:45 PM
From: Keith Feral	Read Replies (1) of 4366

TBTF is a function of capital adequacy. JPM never got themselves into trouble during the meltdown. Fortunately, all the banks have balance sheets that look just like JPM's. It's going to take another couple quarters to grind through the losses to get to ROE back on track, but the sequential improvement in loan losses has already been established the past 2 quarters. BAC's earnings will be higher every quarter for the next 3 years. Nice place to be right now. Tough market the past couple of weeks, but earnings and the economy are on the mend. Inflation is under control, dollar is rising, all things look good for the banks.

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