Saturday, Mar 22, 2008
Analyst believes in turnaround at BofA
bloomberg: Bank of America May Take $6.5 Billion Loss Provision
-Bank of America Corp., the second biggest U.S. bank by "assets", may take a record $6.5 billion provision in the first quarter.
-Bank of America plans to buy Countrywide Financial Corp.Bank of America may try to cancel or modify the accord because the housing market has continued to deteriorate.
Analyst Bove covers all bases ``At the moment, I do not foresee the economy plunging to a level that will substantiate this reserve build,'' wrote Bove, clinging onto the belief that Fed "action" will be effective. Houses are becoming affordable. This is the turning point. Wild guess or analysis? Who can tell. Bloomberg prints it.
Posted by mken @ 09:43 PM (149 views) Add Comment
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