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View Full Version : BAC Insiders buying

aiki14
01-21-2009, 04:20 PM
Ken Lewis bought 200k shares in the open market, 5 other principles also buy. Always like to see that and the market looks like they appreciate it too.
XOM
01-21-2009, 04:35 PM
Not to be argumentative, but these same guys overpaid for Countrywide and Merrill...just sayin'...
aiki14
01-21-2009, 04:58 PM
Not to be argumentative, but these same guys overpaid for Countrywide and Merrill...just sayin'...

But this time they are using their own money!
XOM
01-21-2009, 05:02 PM
Lol, point taken.
BentleyVTech
01-21-2009, 11:28 PM
So did they have to plan ahead to purchase this amount?

Im all for them putting their own money into their company...but if this is just a swing trade on a big down day, I think its ludacris they can drive a company straight to the ground and then try to make profits on its way up...
none9999
01-21-2009, 11:34 PM
So did they have to plan ahead to purchase this amount?

Im all for them putting their own money into their company...but if this is just a swing trade on a big down day, I think its ludacris they can drive a company straight to the ground and then try to make profits on its way up...

No way this is a swing trade!! Surely they are not gonna "say" the stock is not even worth 7-8 bucks!!
aiki14
01-21-2009, 11:54 PM
So did they have to plan ahead to purchase this amount?

Im all for them putting their own money into their company...but if this is just a swing trade on a big down day, I think its ludacris they can drive a company straight to the ground and then try to make profits on its way up...

They are SEC rule 10b-5(1) restricted, so they will have to hold a certain period of time and can only sell at specified times.
jrobbins
01-21-2009, 11:55 PM
You mean the money that they got from taxpayers?

:D :D

But this time they are using their own money!
aiki14
01-21-2009, 11:59 PM
You mean the money that they got from taxpayers?

:D :D

No I mean their own money, the shares were purchased on the open market. I am also not sure BAC got any or much TARP money.
Wookie
01-22-2009, 01:08 AM
No I mean their own money, the shares were purchased on the open market. I am also not sure BAC got any or much TARP money.


Tarp money = $25 Billion ! ($15B for them $10B Ear marked for MER)

Now scratching head to figure out how to raise some ~ $80 Billions to be in compliance with Capital Reserve and already tapped the shoulders of the FED !!!!! (hush hush agreement from late December 2008 - Fed will pour more in there...! - Gimme more or I do not close the deal with MER - deal closed Jan 02 -2009)

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CEO and Compadres buying - great - is that signaling the kiss of death similar to Citi...

http://tinyurl.com/c77v5q

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Very hard press to consider any moves by any of the Big Banks as a positive sign - ZERO TRUST in them ....all gone.
Wookie
01-22-2009, 02:28 PM
Fresh of the Press and it is getting even more messy by the day - Lewis just fired Thain....

With the latest capital infusion, Bank of America has taken $45 billion in TARP money, the same amount as Citigroup Inc , which won its own rescue package in November.

http://finance.yahoo.com/news/Former-Merrill-CEO-Thain-cnbc-14128385.html