Here’s a fun data point: Bank of America in a new filing puts its exposure over bad mortgage securities — bad enough for someone to sue over that is — at $375b.
Remember that number whenever BAC tells us how wonderfully new business is coming along.
Update: Bloomberg digs out of the same filling that the bank is warning employees that year-end cash bonuses may be limited if a drive to boost equity falls short. Right now BAC says it needs another $1.1b. via asset sales. In other words, the local economy is not back to normal if Uptown bonuses go poof.
