Something feels weird about the whole situation . It seems like it was announced suddenly.
Plus, the economy is in the tank, and real house prices still have a ways to fall before the market clears. This is bad for housing, and BoA still holds a significant amount of mortgage debt. Of course, the Fed would just bailout Bank of America if they took severe losses to their balance sheet, so maybe Buffett is taking advantage of his government-paid call option on BoA.
I prefer the sweet and rich melodies of Jimmy Buffett
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