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Wait... when did Bank of America buy Wachovia? I work for Bank of America and I was never told of this!!!!!

Bank of America bought Merrill Lynch. Wachovia was bought by Wells Fargo.

Oops, sorry about that. The acquisitions are happening so fast, it's like the pantheon of Hindu Gods. I can't keep all the "begats" straight anymore!

But I think my point about Bank of America yielding >8% is still valid. When the stock price rises to give a yield under 3%, then it will make sense. (Unless inflation jumps upwards of 10%, but we seem to be seeing deflation these days.)