Also released with market closed: BAC may take 6.5 billion loss

Quote from wilburbear:

http://www.bloomberg.com/apps/news?pid=20601103&sid=avvPo059cPsQ&refer=news

The powers that be may yet save this market with their management of individual disasters and the news resulting from those events.
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Your title for this thread is misleading. You do realize that they are considering a provisional writedown. In layman terms, that only means that they might consider taking a paper loss in anticipation of potential future losses. It doesn't mean they actually are taking a 6.5 billion loss.
 
Which btw...if they do do this writedown, it will be a screaming buy as every specuator that knows nothing about balance sheets will be shorting the house on BAC. Bring on the lemmings!
 
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