B of A needs more Govt Money

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Jan 14, 2009 5:48 pm

to help digest aquisition of MER..  (According to WSJ).. Already borrowed 25 Billion and needs more to pay for MER, Looks like they need TARP Money to pay the retention they offered. Looks like after C goes in the tank this stock is next.  Would not believe this stuff if I was not seeing it first hand

Jan 14, 2009 6:07 pm

How much did they actually pay for ML? It couldn't have been more than 3-4 billion. The losses are probably country wide and their own portfolio's.  ML couldn't have had much more to write off other than severance packages.....

Jan 14, 2009 10:46 pm

funny thing is they didn't "pay" anything for MER...it was a stock deal. might have hit the equity line on the b/s, but didn't effect the cash line a bit...

Jan 14, 2009 10:49 pm
JoeNatlanta:

funny thing is they didn't "pay" anything for MER...it was a stock deal. might have hit the equity line on the b/s, but didn't effect the cash line a bit...



Stupid.

Jan 15, 2009 8:08 am
JoeNatlanta:

funny thing is they didn't "pay" anything for MER...it was a stock deal. might have hit the equity line on the b/s, but didn't effect the cash line a bit...

 
Though an accurate statement on the surface, there is much more to a deal than just swapping stock certificates.
Jan 15, 2009 8:26 am
B24:
JoeNatlanta:

funny thing is they didn't "pay" anything for MER...it was a stock deal. might have hit the equity line on the b/s, but didn't effect the cash line a bit...

 
Though an accurate statement on the surface, there is much more to a deal than just swapping stock certificates.




If you give up equity in your house, have you "paid" anything?

Jan 15, 2009 8:34 am

Exactly.  It's like taking out a 40K home equity loan to build an addition, but claiming the addition didn't cost anything.