No. of Recommendations: 13
<No matter what the next industry to blow up the economy ends up being, it's a safe bet they bank with BAC.
And no matter which banks do something really dumb leading up to the next banking difficulties, it's a safe bet that Bank of America will have been at the forefront.
Historically they have the knack of stepping in every pile of poop that is on offer, and taking a bigger and more lasting hit in every banking downturn that most of the other biggies. Current profits per continuing share are still lower than they were in (say) 2004 even in nominal terms, and I think still lower than their 2002 tech bust lowest level in real terms.
Jim
