(Reuters) - Bank of America Corp (NYSE:BAC) shares closed below $5 on Monday for the first time since March 2009 amid continued concern about its need to build capital.
The stock closed at $4.99, down 4 percent, after dropping as low as $4.92. The shares have not closed below $5 since March 11, 2009. end quote from:http://finance.yahoo.com/news/bank-america-shares-close-below-004456439.html
This is very concerning for anyone in the Western World. Because of the undercapitalization of Bank of America during these times it makes it a more risky bank because of this and one also remembers MF Global and Lehman Brothers. However, the potential collapse of Bank of America if it doesn't recapitalize more will be troubling in a whole new way if Bank of America enters a Chapter 11 in the next 1 to 5 years or just suddenly ceased to exist like Lehman Brothers or MF Global. I'm not sure what the consequences would be if this happened, but if it happened it might make what has happened already since 2008 seem sort of like a picnic in comparison.
To the best of my ability I write about my experience of the Universe Past, Present and Future
Top 10 Posts This Month
- The ultra-lethal drones of the future | New York Post 2014 article
- most read articles from KYIV Post
- reprint of: Drones very small to large
- 158,008 visits to intuitivefred888
- A bad apple season has some U.S. fruit growers planning for life in a warmer world
- Chicago measles outbreak grows after more cases diagnosed in a migrant shelter
- I was trying to think what the future of the world with Global Climate changes will look like:
- The IBM 026 Key Punch machine for punching key punch cards
- Writing poems can be helpful in surviving your life(especially during the difficult times)
- If your Dog gets Hit by a porcupine tail
No comments:
Post a Comment