Is Bank Of America In Financial Trouble? #BofA

Is Bank of America in financial trouble? Will Bank of America, tagged #BofA on Twitter, ask for another TARP bailout? Alternet thinks so. This is what that news website reports: When former Treasury Secretary Hank Paulson was handing out trillions to Wall Street, BofA collected $45 billion from the Troubled Asset Relief Program (TARP) to stabilize its balance sheet. It was spun as a success story -- a rebuke of those who urged the banks be put into receivership -- when the behemoth “paid back” the cash last December. But the bank’s stock price has fallen by more than 40 percent since mid-April, and the value of its outstanding stock is currently at around half of what it should be based on its “book value” -- what the company says its holdings are worth. “The problem for anyone trying to analyze Bank of America’s $2.3 trillion balance sheet,” wrote Bloomberg columnist Jonathan Weil, “is that it’s largely impenetrable.” Nobody really knows the true values of the assets these companies are holding, which has been the case ever since the collapse. But according to Weil, some of BofA’s financial statements “are so delusional that they invite laughter.” From this video blogger's standpoint, who's a customer of Bank of America, let's hope they're not in trouble. Besides, they've still got to fix this episode of bad service: For more on the Alternet claim, read the account here .

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Is Bank Of America In Financial Trouble? #BofA