the keyboard is mightier than the sword

Here's a story of how a simple, not-very-good economic analyst had to admit that others have pinned the tail to the Bank of America's Ass. This guy's from Business Insider, the place where analysts go, to go anal, i.e. to brown-nose the oligarchs and their paid-off economists, like P. 'Spaceman' Krugman. [and good men like Gonzalo Lira get sphincterised]

Anyway, the news is raining like cats and dogs, and these mutts at Buttock Insiders have finally cottoned on to the big scam. Henry Blodgett (sounds like a PI in a kid's novel) reported the obvious cover-up of Bank of Am's complete lack of cash (later verified by W Buffet's loan), and so BoA (or BAC) tried to blame Blodgett for its stock price plummetting.

That's what happens when you're in the newly-emerging, and yet largely co-opted branch of the alt media. You become a target, until you shut up and tow the party line. Your bosses at Buttock Insiders will probably put the pressure on you.
So, what's it gonna be, Blodgett? Are you gonna join the real journalists in the bunkers or continue to aspire to kissing ass?

checkitout:
Oh My Goodness: Now Bank Of America Is Blaming Its Collapsing Stock On ME
Henry Blodget | Aug. 23, 2011, 1:18 PM | 6,732 | 47
Well, this is quite something.
Earlier, I wrote a post in which I explained why Bank of America's stock is collapsing.
I explained that the stock is collapsing because the market doesn't believe that Bank of America's assets are worth what Bank of America says they are worth. I included some analysis from Zero Hedge and Yves Smith [that's the good stuff- Costick67] focused on different Bank of America assets with some logic on why they might not be worth what Bank of America says they are worth.
And now--get this--Bank of America is apparently blaming its stock collapse on ME!
Seriously!
I was eating a tuna sandwich when I saw the news blip across Bloomberg TV. I almost choked.
Bank of America's statement apparently says that I am making "exaggerated and unwarranted" claims.
But I'm actually not "claiming" anything (read the post here). I'm just pointing out what seems to me to be self-evident, which is that the market doesn't believe that Bank of America's assets are worth what they say they are worth.
(Lest some folks at Bank of America actually believe that the bank's collapsing stock price has something to do with me, I should point out that the stock is down all of 16 cents, or 2%, today. That's following an 8% collapse yesterday. And a 50+% collapse so far this year. And an 85%+ collapse in the past 5 years.)
Now, anytime a bank stock tanks, a whole host of excuses are usually trotted out. Generally, the blame is placed on "shortsellers." This is the first time in 20 years around the markets that I've seen the blame placed on a blog post (or, for that matter, me).
For what it's worth, I am not a "shortseller" of Bank of America stock.
In fact, thanks to the fact that Bank of America bought a company I used to work for, Merrill Lynch, I am actually a Bank of America shareholder. (Not a huge one, thank goodness, but a big enough one that I would prefer Bank of America's stock to be going up).
As a Bank of America shareholder, I am furious that Bank of America once again appears to be headed down the tubes, especially because the bank had several years before the financial crisis and two years after the financial crisis to raise tons of capital and write its assets down to levels that could never be questioned by the market.
The fact that Bank of America did neither of those things has already cost me and other shareholders our shirts. It's also why we as a nation are having to waste our time worrying about Bank of America again (as if there weren't enough other more important things to worry about).
I hope Bank of America is right about its asset values. I hope the market is wrong about them. I hope Bank of America's stock recovers and recoups some value for us shareholders. I hope the government doesn't have to step in again to prevent Bank of America from going bust and taking the whole economy down with it.
But in the event that Bank of America's stock continues to collapse, I also have a plan for fixing the problem once and for all.
In case you're curious, here it is.
In the meantime, I'm going to finish my lunch and try to get over my shock and disbelief that a bank with $2.2 trillion of assets and 300,000 employees is actually issuing statements blaming its collapsing stock price on me.
Is this the Twilight Zone? [it's the Decision Zone. Which side are you on, Blodgett?-Costick67]
Read more: http://www.businessinsider.com/bank-of-america-henry-blodget-2011-8#ixzz1VsTvZ19D