BOFA, Mutha Fuckkas..............

“If things get out of hand in the euro area,” declared Citigroup chief economist Willem Buiter yesterday during testimony to the British parliament, “no bank in the financial integrated world will stand,” trotting out the global version of Too Big to Fail.
“During the Savings & Loan crisis,” blogger Yves Smith recalls, “the FDIC did not have enough in deposit insurance receipts to pay for the Resolution Trust Corp. wind-down vehicle. It had to get more funding from Congress.”
The Bank of America’s move, she says, “paves the way for another TARP-style shakedown of taxpayers, this time to save depositors. No congressman would dare vote against that.
“This move is Machiavellian, and just plain evil.”
   “I’ve taken a look at recommending a BAC short several times over the past year,” our forensic short strategist Dan Amoss said when Warren Buffett bought a boatload of preferred stock in Bank of America.
“But I kept coming back to the thesis” that Bank of America has enough friends in high places to survive whatever scandals might beset it. Under normal circumstances — like 2008, when Dan booked 468% when Lehman took a dive — BAC would be a good bet to dive, too. No longer.
BAC stock is up this morning.