Bank of America

September 14, 2007 1:19 PM

Does Bank of America have a problem?

BAO just tripled the APR from my personal Credit Card. Just bad luck? They also increased ATM fees to US$ 3. REUTERS reports that Bank of America sells 230 bln yen of global bonds. Does someone has a serious cash problem here? I guess you would have to call in helicopter Ben for the rescue... Anyone in for some put options? Or are we all going into a deeper dive?


DISCLAIMER: This is not meant as advice for any investment strategy! I am a laymen in finance.

posted by yoyo_nyc (18 comments total)

Uh oh.
posted by docpops at 1:20 PM on September 14, 2007

The "of" tag will be incredibly useful to those searching for this deleted post.
posted by mr_roboto at 1:22 PM on September 14, 2007

I wonder if they even know what a portabello mushroom looks like.
posted by nasreddin at 1:22 PM on September 14, 2007

Cash rules everything around me.
posted by Blazecock Pileon at 1:22 PM on September 14, 2007

Can this one be in Comic Sans too?
posted by shakespeherian at 1:23 PM on September 14, 2007

You're quoting FINANCE, right?
posted by interrobang at 1:24 PM on September 14, 2007

First link seems busted. Or is it just me?
posted by EatTheWeek at 1:24 PM on September 14, 2007

I guess you would have to call in helicopter Ben for the rescue

It's all about the Benjamins.
posted by nasreddin at 1:25 PM on September 14, 2007

?i feel oddly confused?
posted by R. Mutt at 1:25 PM on September 14, 2007

"www.bankofamerika.com"? Is this some political commentary? Or is a Kafka reference?
posted by nasreddin at 1:25 PM on September 14, 2007

Now, this is how to make a FPP.
posted by found missing at 1:26 PM on September 14, 2007

*golf clap*
posted by monju_bosatsu at 1:27 PM on September 14, 2007

reason for deletion: i know i'm supposed to be polite now and all that but WTF MAN
posted by brain_drain at 1:28 PM on September 14, 2007

i am NOT a layman in finance, and I am just as confused as everyone else.
posted by uaudio at 1:28 PM on September 14, 2007

It's raining laymen, halleluah!
posted by Blazecock Pileon at 1:31 PM on September 14, 2007

Way to go, Buffett.
posted by phaedon at 1:31 PM on September 14, 2007

Big banks like BofA are supposed to have cash crunches every once in a while, it keeps the CFOs on their toes. I mean they're a bank, they have access to the most liquid markets in the world in a HUGE way. They just need to dump some treasuries to raise the money. Sure they take a loss, but they need to keep operating.

Treasury market is doing fine. Flight to quality and all that.

PS. I want a helicopter Ben action figure. I like his jumpsuit.
posted by OldReliable at 1:33 PM on September 14, 2007

I am a laymen in finance.

Which is why i didn't pay my bill on time and got my apr tripled.

Btw, I've been getting tons of Bank Of America phishing stuff for the past few days. Just thought I would share.
posted by empath at 1:33 PM on September 14, 2007