RUMORS: Bank of America
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Bank of America Takes A Wild Ride On Wall Street
Bank of America ( BAC ), took a wild ride on Wall Street this morning. Stock broke the $5 share price yesterday afternoon, on wild rumors that the bank would be “Nationalized” under the Obama “Bad Bank” plan. Shares took a further drive yesterday after President Obama announced plans to limit exectutive pay, under the “New Tarp Program” which would remove any incentive for a Quaified CEO to stick around.
This morning, shares got pounded down to $3.77, their lowest level since 1985. Late morning shares began to rally based on another rumor that the Obama Administration ( Tim Giethner ) was considering changing “Mark-To-Market” accounting rules to help the banks increase their balance sheets.
By the end of the day share prices had rallied back, closing at $4.80 and trading afterhours at $5.10.
Wild Ride !!!!!!!
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Tags: Bank Of America
