Bank of America (BAC) CEO Brian "Bailout" Moynihan
See our EPS call summary for today's Bank of America (BAC) EPS Call
Bank of America (BAC) CEO Brian Moynihan gorged on mortgage debt when Fed Funds was at zero, and Bank of America (BAC) has been burdened by large, unrealized losses ever since. These losses only come off the books when the bank sells them, or, when the Fed exercises yield curve control. I would only cheer BAC shares if I thought the bailout was around the corner (it likely is).
Our EPS Call summary & analysis for today’s Bank of America EPS Call: HERE.
