An update on everyone’s favorite banks
Well Bank of America (BAC) has made quite a move from its counter-trend rally high at $19.86. Today Yahoo Finance featured an article about BAC..they are now going to start charging $5 a month for debit card holders…..but wait, you actually have to use it to get charged…oh how nice of them, making that concession. You can just let your debit card sit in your wallet gathering dust and you won’t get charged! This is nothing short of theft on the part of BAC to fund more bonuses for the top cronies at the bank….this just furthers my conviction of the intrinsic value of this company…..ZERO, and that is exactly where it, along with J.P. Morgan Chase and Goldman Sachs, are headed. Certainly the stock is oversold and can bounce at any time….but the ultimate target is as clear as the morning blue sky. Tick tock goes the clock. GAME OVER Mr. Moynihan. That goes for you too, J.P. Morgan and Goldman Sachs, you are sinking on the same ship as your friend Bank of America. Congrats, Mr. Moynihan.Mr. DEmon, and Mr. BlankFEIND, you bought your companies a one-way ticket into bankruptcy.
