A Very Special Opportunity: Bank Of America Wants YOU To Guess How Much Money It's Going To Lose
“Not so fast,” Bank of America said today to a bunch of analysts, who were hilariously projecting that the bank will earn $1.12/share in the fourth quarter, when it announced a $3 billion pretax loss stemming from standing in front of collateralized debt obligations for too long. Chief Financial Officer Joe Price cautioned that while 3 is the number we’re hearing now, the sky’s really the limit in terms of how much more money the bank could lose before last call, which is why more money has been set aside for other potential fuckups. ``Where valuations will be at the end of the year is anyone's guess given these variables,'' Price said at a Merrill Lynch & Co. banking and financial services conference, still stifling laughter over the idea of BoA not being a huge embarrassment to itself. Giggles aside, he was being dead serious-- whoever estimates Bank of America's fourth-quarter losses closest without going over will win an unpaid apprentice position with Deutsche Bank's Mike Mayo, and another date with John Carney (you're still paying).
Comments
50 billion
Posted by: dude hoping carney puts on the second date | November 13, 2007 01:41 PM
One milllllioooon dollars!
Posted by: Dr. Evil | November 13, 2007 02:06 PM
50,000,000,001, Bob.
Posted by: Anonymous | November 13, 2007 02:19 PM
8,100,000,000.03, bob
Posted by: mrpink | November 13, 2007 02:31 PM
one dollar, Bob.
Posted by: Anonymous | November 13, 2007 02:35 PM
Less than they'll lose on that stupid fucking 'strategic' investment in CFC they made this summer, Bob.
Posted by: Anonymous | November 13, 2007 02:37 PM
I'll take balloons for 800 Alex.
Alex: "Balloons is not a category!"
My mistake, I shall choose balloons for 400 then!
Posted by: TheUnrepentantGunner | November 13, 2007 02:37 PM
3 billion? whatever, i dont blink for a penny under 8 any more. 3 billion is chump change.
Posted by: s75 | November 13, 2007 02:43 PM
that's no prize, Mike Mayo is the last person you would ever want to work for. why? because he a dick and on top of that you won't learn much about banks.
Posted by: Anonymous | November 13, 2007 02:45 PM
It's always more than what you think because that's what makes auditors "tick".
$4 Billion, Bob......
Posted by: Auditor Who Bayonets the Financially Wounded | November 13, 2007 02:45 PM
eleventy billion dollars
Posted by: Turd Ferguson | November 13, 2007 03:17 PM
Damn TF (3:17). Beat me to it.
Posted by: publius | November 13, 2007 03:59 PM
You're all wrong, its "blank dollars, DREW"! Bob is no more.
Showcase showdown, baby!
Posted by: inIT4the$ | November 13, 2007 04:49 PM
I'm gonna go with "i", or infinity, whichever happens first
Posted by: Anal_yst | November 13, 2007 05:07 PM
SECOND PRIZE: Two Weeks Working at Citi
I'll say $84 Billion, including the (ahem) acquisition of Countrywide.
Posted by: Dave D'Rave | November 13, 2007 08:04 PM