One of the country’s largest banks by assets and branches, Bank of America also provides credit cards, asset management, and other money-related services.
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No question but BAC overpaid for MER, by a large amount. If you're going to take the bad parts of MER, with no gov't backing, what was the risk in waiting until the stock went down to $5, or $4? Do you see anyone else waiting to buy MER?
All this talk about being too big for the gov't to let fail is unreal - that's what people said about AIG and LEH just a few weeks ago - and look where common shareholders are now.
Anyway, good stock, good company, but the dillution from the MER purchase is going to hurt.