Get out of Bank of Insolvency while you still can..
"Bank of America, another lender whose test has highlighted the need for funds, is also in talks with regulators over its capital needs and the possibility of converting the government’s preferred shares into common stock, bankers said."
Boy am I glad to sell my shares at $11.19 and $9.59. BAC is an absolute walking disaster of a Zombie Bank once it actually has the Federal Government convert Preferred shares to Common and essentially hand President Obama one of the biggest banks in America.
Just as I don't support in my opinion investing in "Government Motors," I certainly can't support anyone plucking their hard earned cash into "Bank of Federal Insolvency."
Ticker symbol BAC will soon be GAC.