I just want to flag something pretty major here. We've been talking about Bank of America's death rattle for months now. Take a look at the BofA archives. This is a company that is very sick and clearly bankrupt. Only regulatory forbearance is keeping it alive. But things are stirring on the BofA issue.
The Wall Street Journal says Bank of America Ponders Retreat, meaning it is ready to get broken up if it doesn't go bankrupt first:
Bank of America Corp. has told U.S. regulators that it is willing to retreat from some parts of the country if its financial problems deepen, according to people familiar with the situation.
Executives at the Charlotte, N.C., financial giant put the potential move on a list of emergency scenarios submitted to the Federal Reserve last year, th...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.