Financial Institutions of this size are usually too large to manage. They are not nimble or opportunistic. They are still the large aircraft carriers of the fleet. Too big to fail or sink without taking everything with them. Very depressing isn’t it.
It may take years before Bank of America covers its cost of capital. How long is a shareholder supposed to wait.
Cost cutting programs are usually not effective or take too long before the patient is declared terminally ill. Announcing a share buy back followed by the Fed’s giving them a provisional pass only smells of danger.
George Gutowski writes from a caveat emptor perspective.