http://247wallst.com/2011/08/23/jp-morgan-may-tak…
Hmmm, I don't know much else, but what do you guys think are the chances of this going down?
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http://www.streetinsider.com/Insiders+Blog/Laugh+of+the+Week%3A+Hearing…JPMorgan+%28JPM%29+Will+Buy+BofA+%28BAC%29/6737647.html
No way...too much overlap. Although I could see Chase acquiring some part of BAC business lines/a portfolio or two if they needed to raise capital and didn't tap the equity market
Is Bank of America truly that weak right now?
Yes.
But, I would be surprised to see JP Morgan Chase buy it. I'm not sure the Feds would allow it.
That would take TBTF to the next level although I could see the investment bank/ML being taken over by an established player.
MS is the only TBTF that could take over ML and they have zero interest in it. Dick Bove is screaming that BAC's balance sheet is healthy and he says deposits are pouring in (this is actually my post for tomorrow).
FWIW, ZeroHedge is convinced the rumor is true. I think it all started with this, though:
http://ftalphaville.ft.com/blog/2011/08/23/660626/jpmorgan-says-bofa-ma…
And here's a pretty humorous take on the mayhem from Josh Brown:
http://www.thereformedbroker.com/2011/08/23/re-blodget-vs-bank-of-ameri…
[quote=Edmundo Braverman]MS is the only TBTF that could take over ML and they have zero interest in it. Dick Bove is screaming that BAC's balance sheet is healthy and he says deposits are pouring in (this is actually my post for tomorrow).
FWIW, ZeroHedge is convinced the rumor is true. I think it all started with this, though:
http://ftalphaville.ft.com/blog/2011/08/23/660626/jpmorgan-says-bofa-ma…
And here's a pretty humorous take on the mayhem from Josh Brown:
http://www.thereformedbroker.com/2011/08/23/re-blodget-vs-bank-of-ameri…]
I don't really follow Bove, but isn't this a complete 180 for him? I thought 60-90 days ago he was screaming to sell all financials (especially BAC) and talking about their bad balance sheets. Is he really saying that everything's great now?
I love that the article talks about 100B of tax payer dollars and a suspension of anti trust laws to pave the way for this. Why do we even have rules or anything?
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