i thought a pretty impressive (but i'm biased) capital-building quarter for bac - so far, i guess, the market's not sure - although probably was expected and this is options x, after all. citi seems to be hanging in there; not doing things fast enough for my taste, but who am i?
ge's wasn't that bad either - they're obviously not cit. and not just the too-big-to-fail yada yada but obviously a totally different capital structure.
as for bac, this was a capital-building quarter in a morass of an economy that would have normally depleted capital. forbearance? - the regulators giving these entities a little room - i don't know; but the capital increases and what is left of them after charges impressed me.
wondering if the big permit jump is from builders selling land to maintain cash flow. sounds like something most would do. it's plausible and means i'll be staying away from homebuilders for a little while longer still.
long bac
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