T O P

Bank of America Is Short GME And Is Positioned For A Potential Bankruptcy (semi debunked post from last night)

Bank of America Is Short GME And Is Positioned For A Potential Bankruptcy (semi debunked post from last night)

theREALbombedrumbum

Thank you for reuploading after fixing the error. Gotta love the integrity here of not only being open to being wrong on something, but going back and fixing it so that more apes can learn peer-reviewed hypotheses.


rediKELous

We are the internet as it was intended back in the Usenet forum days


Zuldane

I miss the modem sounds sometimes


Omg_Shut_the_fuck_up

Beep beep boooooooob WHAAAAAAAAAAAAA


Faster-than-800

WHOOO HOOO I got 56K


hasanyoneseenmymom

You've got mail!


wineandseams

It really whips the llama's ass.


danneg86

Winamp Winamp WINAMP Edit: Don't feel so old now, with all the upvotes 🤘


Glst0rm

It really whips the llamas ass.


Financial-Hall-1056

Rock over London. Rock out in Chicago. Sprint... Be There Now.


Faster-than-800

Hahahaha I would award that but I have run out of gifted coins take this fake one instead 🏆


wineandseams

That phrase somehow came to define my teenage years 🤣🤣


cmerollx

Take my free seal 🦭🥇


Faster-than-800

Thank you! My free this week is gone


Faster-than-800

Hell no, never had AOL, I went from 300baud to 2400baud to 14.4 to 56k to cable modem. BBS to ISP to roadrunner. For the life of me I can't remember the ISP I used, something local that dumped me in the seedy underbelly of the internet rather than sugar coated AOL land.


OneGuod

Except in the middle of the night when you are trying to go on to watch porn in your parent's basement.


4ntagonismIsFun

They didn't make you give up the key when you moved out, so you're still going back to your roots to tug on the ol' vine?


OneGuod

Hahaha. I actually bought the house 6 years ago so that they could retire without bills. So, I still have the keys lol.


SnooFloofs1628

*Mom, get off the telephone, I'm waiting to play Return to Castle Wolfenstein with my buddies online*! 😁 #truestory


Xer0cool

I do but connecting at a shitty speed and having to reconnect and then it not connecting and then finally connecting and then mom friend called over and over and it boots you off....the good ole days


AcrobaticBeat1616

Listen you could still play counter strike with shitty internet (sometimes) lol.


ALoadedPotatoe

I'm not sure why, as a child my grandfather let me absolutely fiddle fuck around with our pc. I used to take it apart and put it back together for fun? Typing cassie123 into our dial up provider is like a wet dream to me.


flibbidygibbit

The [Cluetrain Manifesto](https://www.cluetrain.com/) spoke about this. Showing my age: I used to have this book. They got some things wrong, but they got an incredible amount of stuff right. Point number 11 is relevant: >People in networked markets have figured out that they get far better information and support from one another than from vendors. So much for corporate rhetoric about adding value to commoditized products.


ocxtitan

still use usenet for uh...linux distros... completely saturates my gigabit+ connection


Dalinkwentism

This is the way


teapot_in_orbit

I knew I wasn't the only Silverback in here 🦍


Financial-Hall-1056

Born in the 70's!!! Woohoo... Silverbacks representin'!


SmartAleq

Went to high school then had two kids in the 70s! What's on beyond silver, anyway? ;)


jokingandtoking

Real motherfuckers own up to their mistakes.


Apollo_Thunderlipps

Real Gs move in silence like lasagna.


Pierre_Necessity

Fake Gs noisy like ManGina


Green-Orange-2366

Great job OP. The irony; Bank of “America” is shorting America


bahits

BoA hasn't been pro-America for as long as I can remember. In fact, they have done a lot of things that are just flat out anti-American. BTW, they own Merrill Lynch. Ironically, they acquired a formerly great brokerage back during the aftermath of 2008 crash. "On September 15, 2008, Bank of America announced an agreement to acquire Merrill Lynch. I [Chairman Ben S. Bernanke] did not play a role in arranging this transaction and no Federal Reserve assistance was promised or provided in connection with that agreement. As with similar transactions, the transaction was reviewed and approved by the Federal Reserve under the Bank Holding Company Act in November 2008. " um, yeah, right.


luckeeelooo

Bernanke strong-armed the entire thing. He is now Senior Advisor at Citadel.


WrongAssistant5922

The Grim Reaper comes to mind.


Purchase_Boring

Bank ‘off’ America


Slickrickkk

OP is a god amongst men.


Memeweevil

Yeah, respect due.


Killingroughtime

Not all heros wear capes.. some got a silver back


mcloudnl

Adapt improvise, survive. The exact opposite of hedgies stuck in their short spiral of own death.


the_adjusted

Here here, very thorough and professional! Well done Sir!!!


TheWhyteMaN

It is actually *Hear hear, as in "Hear him, hear him!"


ggukbbong_fund

Whenever a financial institution raises a big amount of money, it’s a warning sign (after all, they are the bank. They should have money right?). When the big boys sold their record breaking bonds 2,3 months ago, I was sus as hell. Now bofa plans on selling $123B worth of securities? I have absolutely no clue why a bank needs that much money unless they need it urgently. Gme is truly a black hole and a game changer. No money will stop this unless retail sells out of their position. I’m hodling bc I like the stock and I see long term value in this stock. Why sell when you believe the company will do great in the future. Hodl 🚀🚀🚀🚀


fazeeeeeeee

123b sounds real bad... desperate almost


derflopacus

When you need the amount of a small countries GDP to fix your fuck up >>>


Miss_Smokahontas

Those are midsize country numbers. 57th largest GDP out of 190 [COUNTRIES!](https://www.worldometers.info/gdp/gdp-by-country/)


NeedNameGenerator

I mean look at how thrilled we're here because GME raised 2 billion, raving about all the possibilities that this 2 billion brings to the company. This is more than 60x that.


MrRedorBlue

And the thing is, BofA isn’t planning on making these big structural changes like GameStop, they are raising that money to cover their own ass. That’s how bad they fucked up


NoCensorshipPlz10

Fuck.


dtc1234567

That’s a lot of zipple


pr1mal0ne

i dont get how on one hand we cry "there is too much money in the system (reverse Repo)" and on the other " BoA needs to raise cash" what is it? Can it be both at the same time?


daronjay

The money In Reverse repo isn’t theirs, it’s money the banks etc are holding for customers, and therefore a liability on their books. BoFA is after more money to pay its debts. Money for itself. So they are not the same. BofA is hoping to sell its new offering to the public, so the funds for that would effectively come from the sort of customer “investing” bank deposit funds currently bouncing in and out of RRP, so in the end, that might get reduced a bit by this offering, if people are stupid enough to “invest” in it.


pr1mal0ne

yes 100% agreed, the money in repo is not the same as money it makes from the sale of stock. But the whole business case for banks is that they can use the money that people deposit to do things that earn the bank money. So if BoA has tons of customer cash, they should be able to USE that money to MAKE more money. If they are not able to do that, then the business model of a bank is failing. (which it might be)


akroleplay85

People need to stop looking at the Reverse Repo as all good actors or all bad actors. The whole Reverse Repo most likely has both : * Actor(s) that desperately need collateral on their books to stave liquidation and meet margin calls * Actor(s) that have a surplus of cash waiting for the market to implode and jump on all the yummy discounts


Patarokun

What's the normie CNBC-type explanation for this move?


XandMan70

CNBC will say, BOFA is expanding and growing!!!! And they will omit, growing "loses"...


Son0fTheSun333

Bank stocks go up, everything is good in the hood.


FilingAgentMan

The S-3 that they filed is not that unusual, they will more than likely sell debt and various other notes to the public in the form of 424B2 Pricing Supplements. The $123B is being registered with the SEC on this registration statement and each debt offering eats away at that amount for a few years, thousands of 424B2's will be filed from this offering. At some point they will have sold the entire $123B offering and will have to file another S-3 for another \~$123B offering and the cycle restarts for the next few years with a different file number.


XandMan70

Come on.... $123b doesn't sound "unusual"? And $123b of (more than likely) junk debt bonds?!.!.! Hhhuuummmmm where did I see that before???? 2008 maybe...


Mechanical_oldie

Any chance these securities could be seen as the same category of *junk bonds* China sometimes sells? In other words sub prime value securities?


FilingAgentMan

I believe they sell mostly debt, but these 424B2's are something I wouldn't want to invest in. I just grabbed a recent 424B2 and looking at the title "Market-Linked One Look Notes Linked to the VanEck Vectors® Gold Miners ETF". From looking at it it appears that payout of this Note (if any) is dependent on the performance of VanEck Vectors® Gold Miners ETF with calculations for determining payout at a set maturity date. My personal opinion are these probably lean in the favor of the bank and are not worth it. If anyone actually invests in these I would really like an opinion.


DaBi5cu1t

Sounds like a controlled margin call on their terms


Criand

Their securities sold not yet purchased image is some 👌👌good shit👌👌👌 Edit: this one https://preview.redd.it/n7li2dcvadf71.png?width=1123&format=png&auto=webp&s=83173032aafd91ca48b1c6c8b998e13f990b3c45 Which means they **doubled** their short positions within the first two quarters of 2021. That's absurd how it went from $22B to $44B.


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Criand

I don't know. I think it's a different mechanic involving collateral being constrained towards quarter ends (March, June, September) as more people need collateral when the markets get more strained. Resulting in shorters unable to get the collateral they need to borrow shares and continue suppressing the price. I think. Maybe. Possibly. It's classified.


bananabombboy

So Sept 9th would be next


drtywlf

Adding it to the list of MOASS dates. It’s basically every day the market is open and some Sundays.


JMKPOhio

🔥🔥🔥


gfountyyc

🥂


Criand

🐶🥂😍


RedditStonks69

🦍🥂🚀


Criand

🦍🛏️🐶


RO30T

Too smooth...Which image is this?


Criand

Sorry just edited my comment with explanation


PlayerTwo85

AHHHH I'M SO FUCKING HARD RIGHT NOW!!!


boiseairguard

Please elaborate for an extra smooth brain.


jdubs952

$44 Billion dollars in stocks that were purchased by not delivered. they still have to locate the shares for $44B. they "sold" the shares, but didn't find/purchase the shares. normal for t+2. Very not normal for 90+days


Criand

I don't think the T+N applies here. It's just a short position on their balance sheet that has yet to be closed. Not necessarily causing any failures. But the absurd thing is that they **doubled** their short position from $22B to $44B within the first two quarters of 2021


cayoloco

I upvoted you for spreading wisdom in this house before I even looked at your name. A wild pomeranian appears and starts making sense 🍻!


boiseairguard

Thanks brotha! I’d give you an award but I’m broke af.


kaiserfiume

So there was something fukd up in their decision to stop covering GameStop stonk a month ago... it was so obvious.


NotTodayDingALing

Maybe they will get a nice overdraft fee out of this….😂


Paige_Maddison

As someone who is with BofA they can suck BofA these ovaries. I can’t stand them tbh.


SpaceWizardPhteven

Maybe change banks asap


smizzleface

You might want to switch up? Credit Unions are my preferred method.


foonsirhc

Hell yeah. Credit unions treat you like an actual human being, it's wild!


smizzleface

I switched from Wells Fargo to a local CU like 10 years ago and it blew my mind how much better they were. I’ve converted pretty much everyone I could off of the national “fuck you” banks.


i_spank_chickens

I have not heard anyone use that sentence before...gg


themonkeysknow

Change to a local Credit Union if you can, the lack of fees is a nice change of pace.


MTFBinyou

Gilded for “BofA these ovaries” I needed that. Thank you


fortifier22

BoA: We refuse to cover GameStop any longer due to its wild movements not matching its fundamentals. What they actually said: **PLEASE FOR THE LOVE OF GOD SELL GME WE ARE GOING BANKRUPT BECAUSE OF YOU DIRTY APES!** Me: Buy & HODL? Okay 😃


LordoftheEyez

When the kid who's losing takes his ball and goes home.


chalbersma

But forgot he borrowed it from the second baseman.


ItsAMysteryScoobyDoo

A half billion times.


LordoftheEyez

Guess it’s time for an ass whoopin 🤷🏽‍♂️


Dyingdyingdeath

Once the bankruptcy train starts rolling shit will get fucking real in here very quickly.


Whiskiz

cant wait to see all the parasitic rats turn on eachother, and try to be the first to exit their short positions to the moon and far, far beyond..


tsevni

Assuming the government doesn’t bail these idiots out again with money from U.S. tax payers.


TOKYO-SLIME

Ha. The US government letting the Banks die? I’ll believe it when I see it.


MajorBonesLive

Bear Stearns, AIG, Wachovia, Merrill Lynch, and Lehman Brothers would like a word. https://en.m.wikipedia.org/wiki/List_of_banks_acquired_or_bankrupted_during_the_Great_Recession


23x3

The way these dominos fall puts any entity being bailed out as the last ones to fall. Surely the rocket will be out of orbit and uncontainable by then. Edit: dominoes*


hi5ves

Yeah, The timing of this does not pass the smell test. It reeks of desperation. They know what's coming and are preparing. Not only GME losses, but mortgage defaults are going to be huge in the coming weeks/months. Combined with the shitty situation that citadel has caused, they fuk.


Hitler_wuz_socialist

Pretty sure bank of America was the one closing down a bunch of offices very suddenly and blaming it on covid. I didn't buy it then and have suspected they've been in deep shit for a while


Neat-Persimmon

Or some riots or something? Maybe I am not making the same/correct correlation. Regardless, I keep strapping in tighter. 🚀🚀


Hitler_wuz_socialist

It was around that same time. They only boarded up the ones near the riots but the office closures were country wide iirc


hi5ves

Yeah, that was the excuse. But the banks that were just shutdown and not boarded, never reopened either. They were trying to cut costs in a hurry. But it seems, it just wasn't enough. The stock has slowly bled since June. Are they trying to sell a $123b shit sandwich to their investors? Sure seems that way.


fludgesickles

Bank of America owns my mortgage. I can't wait to own Bank of America post MOASS


alex_co

I wonder if you could swoop in and buy your mortgage debt on the cheap before it gets sold to some other party?


_atworkdontsendnudes

I wonder if I can buy my own credit card debt for like 5 cents on the dollar?


fgreen68

1. Don't pay CC debt for 6 or 9 mnths 2. Buy random blocks of charged off debt from BofA until you get yours 3. ????? 4. Profit. Literally.


LeverageToMyPRT

“In case of solvency issues with the bank”


concerned_thirdparty

reminds me where bank of america fucked up and a guy whose house BoA mistakenly foreclosed on. He fought them. won. They wouldn't pay. The judge gave him a writ of execution allowing him to have the sheriffs department escort him to seize bank assets in payment for his judgement. Classic seeing the repo guys with shit-eating grins wheel all of BoA's equipment and shit out the door. Bank Manager restrained by Sheriffs. https://abcnews.go.com/Business/bank-america-florida-foreclosed-angry-homeowner-bofa/story?id=13775638


Roarkindrake

Man imagine that repo guy. You want to pay me to repo a bank of America? Fuck that il do it for free!! That's a life time story in a movie lol


AccomplishedPea4108

Thats badaas


tsevni

They’ll sell your mortgage to someone else if shit really hits the fan 😂


EllisDSanchez

So glad you reposted this. Amazing stuff. I’m curious where you found that bit of information about BofA being the main prime broker for Citadel to the tune of 96%. That’s....massive. I couldn’t find it on any of the reports I’ve been looking at so would love some direction.


gfountyyc

I got you my dude! [https://sec.report/Document/0001616344-21-000004/](https://sec.report/Document/0001616344-21-000004/) its the 2020 annual report page 11


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gfountyyc

It really looks that way!


brandonrez

BofA they're a brick and mortar store. All B&Ms are failing. Didn't you hear?


tld0550

As in brick by brick?


erttuli

Bank of America fucking over the American people. How surprising /s


z430

credit to you coming back after a debunking!


SycamoreDon

All I know for certain is that my kid works at BofA and some employees aren’t getting paychecks. Instead, given gift cards to pay late fees on bills their check was supposed to cover. My own kid has had to get a second job in order to be sure to have reliable income. NOT HAPPY.


TheChemicalApe

Wait, you serious right now? That is maybe something that should be looked into a little deeper… seems serious


SycamoreDon

100% serious. It’s causing financial binds for my kid and AT LEAST those in her department (not going to say what department) and from what she’s been told by someone else who works in a separate department they’re having issues getting their paychecks as well. The only one I personally am sure of is my kid.


7357

Wow! With liabilities like those of the prime brokers enabling all this market abuse one would think they're in *so* deep that payroll is the least of their worries and would get taken care of if there's still, *some fucking how*, enough magic money for continued shorting with no end in sight (for some).


SycamoreDon

She’s hoping it’s just a paperwork mistake somewhere and will be fixed soon but me personally, I doubt that very much.


7357

The money's there, it's just delayed and taking a detour via your brokerage account.


Zomblovr

Unfortunately your account is too new and you mainly post in GME related things. Just ignore this unless there is proof.


Optimistic_Twig

Well that's both illegal and quite a big deal


TOKYO-SLIME

It seems that a LOT of stuff in this saga is illegal… But DW guys, the SEC are on the case… 😒😒😒


Raydr

If this were true, it'd be all over the news. Looking at recent Glassdoor reviews and other sites, nothing like this is mentioned. Additionally, there are very strict policies around compensation and a process to go through to give people gift cards (taxable). Something doesn't smell right. Does your kid work for BofA proper or do they actually work for a vendor of BofA?


QuarterSavant

This needs a separate post / DD .


ManzoTheSawedOff

I went to a business to do a thing. The business was charging $100 fees for paying in cash. I asked why. "All of our bank branches have their deposit boxes taped shut." I asked which bank. They told me which bank. I told them "Something weird is going on with the banks right now." They said "You're telling me. We bank with [bank] and we are having trouble even paying our mortgage for the building. They dont want to take our money." I'll give you one hint who their bank was. What does it mean when a bank won't take your money!? Walked away with a full mast erection and jacked tits.


mullingthingsover

Is this real?


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SycamoreDon

Yes. She literally just had a baby and hasn’t even healed yet and is having to work a waitressing job after work to ensure reliable income, only keeping BofA for benefits until she can find something else. And she’s a long-time BofA employee. She’s not the only one. Even her supervisor hasn’t gotten a paycheck, only $150 gift card to pay late fees in rent and utilities, etc. Its ridiculous. That visa gift card didn’t even cover the late fees from the bills my kid was late on.


mullingthingsover

Please tell me she has reported this to her state’s department of labor or equivalent


SycamoreDon

I’ve told her to but I don’t think she has, honestly. I think she said her boss has, though.


mnelsonn6966

Wtf ? That is nuts


Tronowitz

Soon to be Bank of GMErica 🚀🚀🚀💎🙌🦍


micjamesbitch

Remember when DFV tweeted that gif of the BOA ATM? Damn I miss those tweets... Come back bb plz


babbybellla

yes!!!!!!! he really is a time traveling genius


Einhander_pilot

I was actually thinking Wells Fargo was going down first but Bank of America looks good to me!


Smelly_Legend

They probs own each other


astronautassblaster

I saw that DD. Gave me whole new levels of zen ape


flibbidygibbit

Heh, wells fargo sent me an offer for a 0% credit card. I should apply and take out a cash advance to buy GME. This is definitely not financial advice. This is incredibly risky, like epic loss porn risky.


Tartooth

Bet ya the cash advance is 20% interest hah


TuaTurnsdaballova

RC’s biggest positions (only positions?) last year were GameStop and Wells Fargo. I remember reading an article and he declined to comment on his Wells Fargo position. I don’t know if he’s still holding those WF shares but I thought it was interesting.


Son0fTheSun333

Dunno about RC's individual portfolio but RC Ventures is 100% vested in $GME.


manoylo_vnc

Jack my titties daddy!


Tumordoc

TL;DR: DFV Twitter ATM image was correct!


Xtra_chromozooms

Good Lord, I can only be so erect! 🦍🚀🚀🌘🪐


BIG-DAVO

There must be another inch left to achieve? 😂


Xtra_chromozooms

You mistyped. Meant to say, "there must be **the other** inch left to achieve."


gutster_95

I actually have puts on BOA. Guys I am the Bad Guy now


imnoobhere

Excuse me for being a smoot brain, but what is the use of puts on a company that goes out of business? Wouldn’t they just be worthless? Like, it doesn’t matter that you got 100 shares for $10 a piece if they fall to $0 after you get them. Are you hoping for a buy out?


batmanbury

Even if a company/bank goes to zero, it takes time. It would eventually transfer to a “liquidation” ticker (i.e. OTC exchange ending in “Q”). So, if you owned 100 puts at the $5 strike for company ABC, and ABC goes bankrupt and is now around $0.50 under the ticker ABCQ, you still have the *right to sell* 100 x 100 shares at the $5 strike. Obviously you then buy shares at the huge discount: 10,000 shares X $0.50 = $5000 cost. But then you get to exercise the puts, and resell for: $50,000.


yolotrumpbucks

It's the opposite - you have the right to sell at x price. So if the going rate is say $0 and your put is at $20, you can sell 100 worthless shares for $20 each.


_Sytri_

Does anyone else get the feeling that since January everyone involved in this apart from retail has been trying to ensure there isn’t a massive market collapse? Like the SEC and the different hedge funds have enacted regulations and laws to stop all this? The SHFs were probably told that they can continue suppressing the price to allow the plans to be put in place, probably in exchange for leniency with regards to jail time (lol). It seems like us apes knew what was happening immediately after Jan with the fuckery so for sure the SEC did. I think we just didn’t realise the fallout was as massive as it would’ve been if January had carried on. Like Citadel and Point 72 had thrown a petrol bomb up in the air and only then did they realise by the flickering light of their molotov they were all surrounded by tinder that would engulf the whole market and now everyone’s been playing the most dangerous game of hot potato in human history to clean up the mess with the proviso that Citadel and Point 72 get burned but only a *little*.


patio_blast

BofA can suck bofa deez nuts. friendly reminder: switch to a credit union if you're using a major bank — make the world a better place.


hughesfan101

Good work my dawg 👊


careerigger

My boyfriend was a Merrill lynch advisor for 31 years (lost all his stock shares in 2008 when BAC bought ML) he left in May for many reasons. The final straw that broke the camels back was when he started buying calls & puts in both stocks. Let’s say he received a call from Compliance telling him he could not personally trade in either stock, & the rest is history! He bought the shares, he likes the stock & is a diamond handed silverback! Power to the Players! Can’t. Stop. Won’t. Stop. GameStop! Fuk with the bull you get the Horns!


vkapadia

Your boyfriend got a call from his work's Compliance telling him he couldn't buy GME?


careerigger

They told him he couldn’t buy any options in either stock. Apparently ML advisors cannot do options for their clients. He told them it was his personal investment account & has bought options for himself throughout the years. Compliance told him they were no longer going to allow him to do so. They told him it was taking valuable time away from his clients and assisting them. Which was total BS! I too have been doing DD as a smooth brain on BAC. I even told him something was very wrong & believed they had something to do with Heggies! All makes sense now!


Poodogmillionaire

Sounds like shorting BoA could result in the outcome hedge funds were trying to achieve with GME lol.


sexyjesus99

Great job! If only journalists were also professional enough to fix and re-upload their articles with such integrity


sktchld

I'm glad karma is finally getting those fucks who charge 35$ overdraft fees for being negative pennies.


zachrambo

I would like to add Zoltan Pozsar (a notorious banking wizard for Credit Suisse) has mentioned in the past that Bank of America and JP Morgan both have been [full of customer deposits](https://research-doc.credit-suisse.com/docView?language=ENG&format=PDF&sourceid=em&document_id=1083878521&serialid=7I2%2F%2B9FVK6XPqkwvqjIyX1Sv7oM3%2F3I%2BIfsh4yvT%2BJY%3D&cspId=null) since they are the two biggest consumer banks by a large margin. Both have had deposits skyrocket because of stimulus checks and the [savings rate](https://fred.stlouisfed.org/series/PSAVERT) for average people was high but have fallen in recent months. Deposits are bank liabilities and must be backed by collateral (since the SLR rule came back). So if BAC has had substantial losses due to trading (or shorting GME), they may have bought some time with the savings rate dropping but the losses they have accumulated will force them to restructure their balance sheet shown and will lead to more RRP or outright purchase of treasury securities causing absolute mayhem with a collateral shortage.


SneakyRum

Could you please clarify where the debunked info section ends. Not clear if it is just each of the following paragraphs or if the debunked section runs on further.


gfountyyc

The only section that was debunked was the wording of BofA moving their assets to the new holding company in the prospectus. Last night I thought that was new, but in fact it’s been in multiple filings.


hikurashi83

Right, so isn't the fact that the transfer of assets is already in motion (or has been completed) even more of a smoking gun? Doesn't this fact mean they are probably further in the bankruptcy process then you had originally expected?


gfountyyc

In theory potentially yes, but I don’t believe so. They did the transfer a couple years ago. That’s why I originally pulled the post to fix. If they just entered the agreement recently my post would have been fine. I don’t believe they will need to until moass.


bamfcoco1

Wasn’t it BoA that one guy was working for and posted that he received an email mid day saying to drop everything immediately leave the building and go home? I remember the OP saying they gave him no indication of if and when they would return. Does anyone else remember this post? I don’t recall if he ever posted a follow up.


LordChavi227

Anyone come back to this oct 1?


Kessarean

Yep


CunilDingus

BoFA’s in trouble.


Kessarean

BOFA deez banks


evilzergling

How does this affect me as a BofA customer? ​ That being said, I have already decided that after MOASS I will keep my tendies with Fidelity and obtain a credit/debit card with Fidelity to access my funds instead of the risk of transferring to a bank.


mushroommilitia

Don't forget Mr. Warren buffet had a huge portfolio of bank of America which he sold off most of it this year I believe.


Uranus_Hz

BofA deez tiddies are jacked


veryeducatedinvestor

Sir, they've debunked the debunked post


moronthisatnine

Been waiting for this!


F4TROCKET

If only BofA knew that the credit they gave me went straight into buying more GME 😂 🚀🚀


RealPropRandy

This sounds… idiosyncratic.


sleepf0rtheweak

Thank you for the revision. It is good to evaluate and fix the DD with new information that comes out to best keep the knowledge flowing!


njsf55

Since the hedgies are paying shills i am here for free to say fuck hood


2trueto

In the event of worst case scenario- BoA bankruptcy, what would the impact be to their typical banking clients? $250k FDIC insurance then you’re SOL? I don’t bank with them but I think my dad does. He’s not gonna listen to me if I try and advise him, but I gotta try (GME conversations pretty much land on him telling me to invest in real estate).


RichGanache1483

This is how I hive mind is suppose to work!! Well done Ape! Thank you for your transparency and integrity! ☺️🙏


Puffy_Ghost

If BofA goes under I'll laugh so fucking hard. Those fucking fucks have been screwing over little guys on mortgages, loans, overdraft fees, and anything else you can think of for decades. Turn them into the Credit Union of America, member owned and operated. Fuck BofA.


Precocious_Kid

They did not have a net loss of $58B in trading. That's not what the statement of cash flows tells you. It says that their cash balance decreased by $58B due to trading. There could be a number of different reasons why their cash balance decrease, and losses accounts for only one of them. This is fitting data to the narrative and not a narrative to the data.


SirioBombas

It's truly outrageous this is not being covered by MSM. This is criminal. Millions of people have their money in there.


StoicMockingBird

They probably don’t want to cause bankruns. People won’t only pull their money out of BofA but others with accounts at other banks will do this too out of fear of more banks falling. And this makes it a self fulfilling prophecy just like people hoarding toilet paper. Had they not done that, there wouldn’t have been any problem. It’s still unfair to keep people in the dark on purpose though.


EpicOaky

What does this mean for Bank of America customers?


SaltyShawarma

Nothing really, as long as you don't keep more than the FDIC insured in each account. That said, who really knows. That's why I keep all my money in gme. Not financial advice.


mykidsdad76

can we call this DD at this point?