This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

BofA Mailbag: Readers React to Ken Lewis

Updated from 12:28 p.m. EST

Our story exploring whether investors should believe Bank of America (BAC - Get Report) CEO Ken Lewis' declaration of the company's strength elicited some strong reactions from readers.

Some questioned decisions that BofA has made or were angry at the company or Lewis. Others were confused about aspects of the article, or angry at for publishing it. We're giving them a platform to express these opinions, and for us to respond, through our reader mailbag.

The BofA Bulls

Dave A. wrote in to say he believes Bank of America is solid, with little exposure to risky mortgage assets because of government funding and a heap of revenue. He doesn't think the bad assets from the Countrywide or Merrill Lynch deals are significant enough to hurt BofA results in 2009 and believes that rampant criticism is "driving this market into the ground."

"Get a clue," writes Dave. " BofA will be profitable in 2009."

"Sincerely sickened" Brian B. struck a similar tone, saying that articles pointing out potential flaws or risks at major financial institutions "are what's driving this economy down." Instead, he says, reporters ought to "start focusing our articles on positive things and get this economy going."

Jim took issue with Roger Young's assertion at the end of the article that investors are safer waiting until bank stocks are on the rebound, rather than bottom fishing today, and perhaps losing the entire investment. While Young said that BofA would be a better buy at $5 -- when the market is more confident about its viability -- Jim wouldn't pay a premium for that faux assurance.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
BAC $15.31 0.00%
C $51.00 0.00%
JPM $59.55 0.00%
PNC $92.04 0.00%
USB $42.86 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs