One Creative Thought: Report: BofA to swap for stake in Brazilian bank

Do you still believe in the experts' opinions that Bank of America is a solid buy?
Report: BofA to swap for stake in Brazilian bank - Charlotte Business Journal::

The swap for the stake in Banco Itau Holding Financeira SA would continue BofA's recent practice of expanding in developing countries through minority stakes in local banks, the newspaper says.

IMHO: BofA recently was negotiating a settlement with Manhattan prosecutors to settle a case wherein BofA allegedly laundered nearly $2Billion US. The settlement amount was reported as $25 Million US. Your average American might think it better to get out of nations where money laundering occurs as opposed to getting deeper into the swamp.

I predict within the next few years (five at the max) more trouble will bubble to the surface of BofA's public personna as it is inevitable they will invest in banks hiding activities which (under US banking laws/regulations) will be found illegal.

But hey - its all about money - not common cents. And if the previously mentioned settlement goes through, what's a whopping one percent legal penalty?

While many 'global economists' (or globonimists) will tell you foreign investment is a 'good thing' - imho, this is just one step deeper into the swamp.