Tuesday, August 23, 2011

Bank of America Cruelly Brings Up SEC in First Line of Response to Henry Blodget; Dick Bove and Chris Crocker Comment (BAC)

The stock is trading at $6.18, down 24 cents but off its low of $6.01.
First up, Dick Bove, who appears to be suffering from some type of cognitive/neurological deficit, on Bloomberg TV via DealBreaker:

Dick Bové: Short All The Shares Of BAC You Can Borrow But It Won’t Do Any Good
...“There is no impact whatsoever on Bank of America’s balance sheet, based upon the price of its stock in the open market. If the price of the stock goes to a penny a share, it has no impact on the balance sheet of Bank of America. Bank of America sells the stock to the public, it takes in the money, and that is the end of the transaction as far as Bank of America is concerned. If you’re going to break a bank, you’re going to have a run on its deposits. That’s not happening. Exactly the opposite is happening…Deposits are pouring into Bank of America… MORE
Roger that, break a bank, not.
What the heck is he talking about? Pity about the TIA's.

Might as well go back to MarketBeat, which appears to enjoys stirring this fetid stew:
Bank of America Fires Back at Henry Blodget
...Here’s the full statement, which minces no words:
Mr. Blodget is making “exaggerated and unwarranted claims,” which is what the SEC stated publicly when he was permanently banned from the securities industry in 2003....MORE
Chris Crocker has some thoughts on Mr. Blodget's treatment at the hands of the behemoth:
How fucking dare anyone out there make fun of Henry after all he has been through.!

He lost his aunt, he went through a divorce. He had two fuckin kids.

His husband turned out to be a user, a cheater, and now he's going through a custody battle. All you people care about is….. readers and making money off of him.

HE’S A HUMAN! (ah! ooh!) What you don’t realize is that Henry is making you all this money and all you do is write a bunch of crap about him.

He hasn’t performed on stage in years. His song is called “give me more” for a reason because all you people want is MORE! MORE-MORE, MORE: MORE!.

LEAVE HIM ALONE! You are lucky he even performed for you BASTARDS!

Perez Hilton talked about professionalism and said if Heenry was a professional he would’ve pulled it off no matter what.

Speaking of professionalism, when is it professional to publicly bash someone who is going through a hard time.

Leave Henry Alone Please…. !
Leave Henry Blodget alone!…right now!….I mean it.!

Anyone that has a problem with him you deal with me, because he is not well right now.

We'll have more of Mr. Crocker's incisive micro/macro top-down, bottoms-up analysis a bit later