Bank of America's Unrealized Loss Position Is Getting Worse. Time for Moynihan To Retire.
The Fed will ultimately lower rates to save the banks, not because price inflation has been tamed. Bank of America’s (BAC) unrealized loss position deteriorated from the March quarter. BAC gorged on Agency securities and Treasuries when yields were at a record low believing rates would never increase.
It is time for Bank of America CEO Brian Moynihan to retire.
