Today's fate for BOA, hitting $3.77 earlier, was sealed when Merrill's trading department failed to get a $5 or above close on the shares yesterday. It was really a tug of war for most of the day as they were fighting with the shorting hedge funds that wanted a below $5 close. BOA closed yesterday at $4.70. Pension funds are not permitted to invest in stocks that sell below $5 a share. The stock is currently trading at $4.61 off $0.09 following massive covering earlier by the hedge funds who took some profits.

It is almost too comical listening on the TV last night to BOA getting rid of a few of their jets, they had the largest jet fleet of any bank, along with the Merrill heliocopter that they inherited. It looks to me that they will be approaching the Treasury for more free gifts. All of the banks's executives need to be purged and sent down the river for all the harm that they have brought to their shareholders. These guys turned BOA into a toxic dump that smells from coast to coast. Adding insult to injury for shareholders they bought about 10 barges full of the smelly stuff on the Merrill deal. If any company needs a general house cleaning it's Bank of America.