Behind the Headlines: Better Than BofA

To say we are in a market of historical dislocations is to state the obvious these days. Scandals, bailouts, failures and survivals top the headlines every day.

However, if we look past the headlines to uncover the many companies not making the front covers, we can find some intriguing valuations and interesting stories. Some might offer indirect ways of entering a hot, new market, while others might offer compelling valuations vs. their more direct peers.

On Friday, the U.S. government announced that Bank of America(BAC Quote) would receive an additional $20 billion in bailout funds as the struggling bank continues to try to swallow the mammoth acquisitions of both Merrill Lynch and Countrywide.

Bank of America, which is the nation's biggest bank by assets, has already received $25 billion dollars in additional capital from the government under the Trouble Asset Relief Program, more commonly known as TARP.

The Wall Street Journal reported that the discussions between "the government and Bank of America began in mid-December when the Charlotte, N.C., bank said it wasn't likely to go through with its acquisition of New York-based Merrill because the losses at the troubled company were larger than expected."

But all financial firms are not created equal, despite the overwhelming negative press being published today.

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