I’m not very savvy when it comes to banks and money.
Is it time to cash in my (5 yr) IRA at BOA?
It’s getting 3.49 % interest and is up in mid 2012?
I hope you realize that your money is being used to speculate in derivatives.
BofA Said to Split Regulators Over Moving Merrill Derivatives to Bank Unit
Sleight of hand: BofA moves dodgy Merrill derivatives to bank
Oh, and your tax dollars are insuring their bets.
Talk about one hell of a hedging strategy - Bank of America executives win no matter what, taxpayers bear all the risk.
[m not very savvy when it comes to banks and money.
Is it time to cash in my (5 yr) IRA at BOA?
Its getting 3.49 % interest and is up in mid 2012?]
Let’s put it this way, the inflation rate is 3.5%.
One reason some people don't like BOA...it's headquartered in North Carolina which is anathema to many in the NYC financial community.
As to what to invest in, I like energy majors, cleel made some good suggestions, and you're not near as likely to have it melt down.
Remember, BOA went from 8 to 6 virtually overnight after Buffet invested 5 billion....