Bank Of Lehamericawide

If Bank of America buys all or part of Lehman, while still digesting the toxic waste of Counrtywide, it will certainly be interesting to see how the street will view the stock going forward. The common stock currently yields almost 8%, a tempting carrot for many institutional investors. I would have to believe that the dividend would have to be cut to pull this one off. Interesting times for sure. It seems like the street has accepted the fate of many of these names, no one seems shocked or surprised anymore as they just “let them go.” Merrill and AIG both look like they could go another 30 to 40% lower, yet the only thing the media seemed to focus on was LEH last week. The complacency to me is unreal. This really has been a slow motion train wreck and will definitly be one for the history books.

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