BAC?

Today's best headline from Zero Hedge: "Buffett Bailout Of BAC Sends Stock to Early August Levels, Changes Nothing." Indeed, Moynihan's claim that BAC did not actually need the $5 billion capital injection is particularly laughable. It seems like now is the perfect time to sell the spike. Even before today's news, Moynihan was uncompelling during a CNBC interview on the first trading day post S&P's US credit downgrade, where he said that the bank would, somewhat ambiguously, "continue to do what it was doing."