Cramer's Lightning Round - Bank Of America Might Be Done Going Down

Oct 28, 2011 Full story: Seeking Alpha

Bank of America : "...at this point, you are back where Warren Buffett bought BAC... it is way too late to sell...I think it might be done going down." GameStop : "I am worried about the long-term mobile implications.

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Jesse

New York, NY

#1 Oct 28, 2011
Bank of America is going bankrupt.
Ben Russell III

Fort Lauderdale, FL

#3 Nov 1, 2011
Jesse, What did you hear? Someone told me something to do with the Merrill Lynch business is going to sink them.
I'd love to see them go, just would be a shame for all the people employed there.
Jesse

New York, NY

#4 Nov 2, 2011
Ben they are shifting $75T - trillion - worth of derivatives from Merrill Lynch to BAC. That means onto the FDIC-insured retail side of their operations. The GDP of the world is $60T.

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