Divested Bank of America @ 14.98 yesterday.
I was not satisfied with the high prospect of further government intervention in the financial sector. When I bought Bank of America, it was due to reduced government intervention due to repayment of TARP funds.
When Obama took his populist stance on limiting proprietary trading and France and UK behind those measures, it would seem like a turbulent few months ahead for banks. With UK readying bankers tax, it seems like bank bashing would continue and regulation may be enforced.
As the fundamentals of the industry has changed, I divested Bank of America yesterday.
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