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Economy

Demeter

(85,373 posts)

30. Bank Of America: Big Cracks In The Facade Following Earnings

Reply to Tansy_Gold (Original post)

Mon Jul 27, 2015, 02:04 PM

Jul 2015

http://www.insidermonkey.com/blog/bank-of-america-big-cracks-in-the-facade-following-earnings-363625/

Summary:

- Lackluster earnings followed announcements of two executive being disposed: the CFO and Vice Chairman of Wealth Management.
- This spells a potential lack of integrity and dissent in BAC’s upper ranks, which should cause concern for shareholders.
- BAC lags behind all major domestic large bank peers; current BAC shareholders have an array of other, less risky and more promising options.
- We suggest cashing out now as downside could come.

Bank of America (NYSE: BAC) reported earnings last week. While some bright spots surfaced, CEO Brian Moynihan is facing increased pressure to improve BofA’s overall situation, and his approaches have been causing dissent.

CFO Bruce Thompson and Wealth Management Vice Chairman David Darnell announced their departures amid additional executive management repositioning.

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