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Posts Tagged ‘Concern Rises Over U.S> Mortgage Defaults FT June 13 2011’

BofA Shareholders, ‘How Long Can You Tread Water?’

Posted by Larry Doyle on June 13th, 2011 9:03 AM |

What did the Lord say to Noah?

The same thing that Bank of America CEO Brian Moynihan might now be saying to his shareholders. That is, ‘how long can you tread water?’

Bank of America’s stock is down approximately 25% on the year and close to 35% over the last twelve months. While it has doubled from the Armageddon lows seen in 2008, the stock has fully retraced any moves higher since early 2009. ¬† (The graph of Bank of America below is sourced from Market Watch and covers the last three years).

What gives? Will Bank of America need to raise more capital? Will it need another lifeline from Uncle Sam?

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