Obama to Deliver DNC Acceptance Speech at BofA (BAC) Stadium....Wait, What?
Tweet
Share
E-mailGet Alerts BAC Hot Sheet
Join SI Premium – FREE
According to reports Tuesday, President Barack Obama will deliver the democratic acceptance speech at the Bank of America (NYSE: BAC) Stadium in Charlotte, NC. The thing is, the rest of the Democratic National Convention will take place at the Time Warner Cable Arena, also in Charlotte. The two are about 1.5 miles apart, according to a quick Google Maps search.
The irony writes itself in this case; BofA has been facing trial after trial with the American public, and was the worst performing large cap bank -- or Dow Jones stock, for that matter -- in 2011. Though Obama has toned-down his "fat cat" rhetoric, you can be sure the federal government, with Dodd-Frank regulation and new Basel III inspired rules to be implemented, is still keeping a close eye on BofA, et al.
Bloomberg noted a mixed relationship between the Obama administration and BofA. For example, in May 2011, one senior advisor praised BofA CEO Brian Moynihan as having a level of corporate responsibility that went beyond the bank. However, Obama himself berated BofA following the proposed $5 per month debit card fee.
Either way, the speech, scheduled for September 4, 2012, should be an interesting one as the political race continues to thin-out and firm-up.
The irony writes itself in this case; BofA has been facing trial after trial with the American public, and was the worst performing large cap bank -- or Dow Jones stock, for that matter -- in 2011. Though Obama has toned-down his "fat cat" rhetoric, you can be sure the federal government, with Dodd-Frank regulation and new Basel III inspired rules to be implemented, is still keeping a close eye on BofA, et al.
Bloomberg noted a mixed relationship between the Obama administration and BofA. For example, in May 2011, one senior advisor praised BofA CEO Brian Moynihan as having a level of corporate responsibility that went beyond the bank. However, Obama himself berated BofA following the proposed $5 per month debit card fee.
Either way, the speech, scheduled for September 4, 2012, should be an interesting one as the political race continues to thin-out and firm-up.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- SEC accuses ex-BofA senior banker Satsky of insider trading - Bloomberg
- BofA says CTA Treasury shorts stable, euro short-cover risk rises
- BofA maintains underperform ratings on six BDC stocks
Create E-mail Alert Related Categories
Insiders' BlogRelated Entities
Barack ObamaSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
