Great graphic in WSJ about the history of Bank of America:
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click for larger graphic
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I have no position in any money center banks — as long as their books are opaque (thanks to FASB 157), they violate the “know what you own” rule, making it difficult to place them into long term asset management accounts.
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Source:
Bank of America Ponders Retreat
By DAN FITZPATRICK And JOANN S. LUBLIN
WSJ, January 13, 2012
http://online.wsj.com/article/SB10001424052970204409004577156881098606546.html
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