...consumer advocacy group Public Citizen (Nader founded them) is saying that BAC going bust would pose a massive threat to the US economy, therefore the only option here is to break the company up.

I'd like to get the thoughts of some of the investor savvy folks around here on this.

That's the year we deregulated banks and allowed investment banks to merge with community banks. I'd imagine investment banks would still exist if we brought back Glass-Stegall.

Public Citizen, I'm sure, thinks that JPM and Citi should be broken up as well, but as far as I know, they're not about to collapse. BAC on the other hand......

It's pronounced "Vafunculo" by the rest of us guineas.

If you're going to break of BAC, then you need to also break up Citibank and JPMorganChase.

Still would not invest in BAC with all the toxic mortgages it still has. Whoever did the due diligence on the CountryWide acquistion should be fired, assuming they haven't been already.

I didn't read the link. Although I have looked at BAC and heard the arguments before I doubt Public Citizens has come up with anything new.

BAC, Citi and JPM could all put a big hurt on the economy if they go under. But so could Exxon, Cat, GE, Apple, IBM and Metlife and any other number of companies. Do we break them all up.

Without the large banks there wouldn't be large companies. Your local Butt Licker bank can't finance a month of Boeing production not to mention the money to get the 787 Dreamliner off the ground.
 
BAC can bankrupt Countrywide and survive as a bank. As for all the lawsuits most will be settled, thrown out or take years to go thru the courts.

I don't own any BAC or for that matter any equity bank stocks. I do have some Trust Preferred bank shares. Mostly JPM and MS. Had them for years. They probably have paid more in dividends than I paid for the stocks as a basket.  

Are you a spy from bum fuck Egypt sent here to spread disinformation. Whats the deal?

WW the  first Boeing airplane, the B&W Model 1 was a float plane. A Replica hangs in the Museum of Flight. It was call the Boeing Model 1. Has cloth wings, open cockpit and rotary cylinder engine.

Did they build that in 1999 and start on the 787 Dreamliner in 2000?

JPM is in pretty solid shape, thanks to Dimon. Citi on the other hand is so large and Byzantine in its operations that I don't think Pandit truly has a handle on what's going on. But to Pandit's credit, he's a much better banking CEO than his predecessor, Prince (who was a lawyer by trade). Weill should never have tapped Prince as his successor, but had little choice after pissing off and firing Dimon for basically throwing Weill's daughter out of the business LOL.

with your assessment  of Weill and how Dimon got to JPM.

When he was fired by Weill JPM was all at his door with an offer of a job and CEO in short order. Pandit is probably a very good banker. Prince was an idiot put in to execute Weill and Dimon's plans for Citi as a supermarket bank. He just didn't know how.
 
When Dimon threw Weill's daughter under the bus he should have taken it as a sound business move and made sound business decisions. Dimon would be running Citi and it would be the largest bank in the world. By the way, Wells Fargo is a very well run bank not by accident.

Market Caps: BAC 76.91B, Citi 88.83B, JPM 142.53B, WFC 152.88B  

Actually, Dimon went to Chicago to become CEO of Bank One after Weill fired him. Dimon only became CEO of JPM Chase only after it bought Bank One (with JPM's CEO becoming chairmen of the board).

I really can't blame Prince for being in over his head, as Weill should never have put Prince in that position to begin with. Lawyers are notoriously bad with finance/numbers and any senior executive of a major bank worth his/her salt is excellent with finance/numbers.

I agree that Wells Fargo is an excellently run bank thanks mainly to Richard Kovacevich (the CEO prior to Stampf). Stampf (the current CEO) is an excellent CEO in his own right, but no Kovacevich. If Wells were as ambitious in its acquisitions as JPM Chase had been, it could be right up there with JPM Chase as the largest, best run banks in the US.