Bank of America: When Will It Hit $10: Poll

Horowitz thinks it will take another $12 billion to deal with the issue. That would be no sweat for Bank of America, as it could easily handle that with the money it earns. Even if it takes another $32 billion to deal with the problem, Horowitz thinks that when you take earnings and the amount of time it will take to sort through all the legal issues, Bank of America can handle it.

So why does the market still say Bank of America's earnings is worth absolutely nothing? Why do investors say the bank is worth even less as a going concern than it would be if it was chopped up and sold piece by piece?

Well, remember what we said about the normal environment? We aren't in one. Bank of America can't charge 7% to make good loans while borrowing at 3%. It can only charge 3%, and it can't find many good loans to make. Those credit card fees? Under attack from a massive antitrust lawsuit. And that $32 billion worst case mortgage situation? Well, it isn't really the worst case. Not if New York Attorney General Eric Schneiderman, newly appointed to a high profile task force unveiled by President Obama during his State of the Union speech, has anything to say about it.

But what do you have to say? Can Bank of America ride the recent wave of bullishness all the way to $10 before year-end?

When Will Bank of America Shares Reach $10
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-- Written by Dan Freed in New York. Follow this writer on Twitter.

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