[dtw]

Keith, I find that some good, fresh Sriracha sauce will mask just about anything. It has gotta be fresh and bright red.

Keep in mind, it isn't really BofA's explanation. That was the thrust of the meeting in Washington and there wasn't any secret made of it. Basically, "Here's a ***** sandwich, take a bite even if you're not hungry". The gentlemen I met with this morning characterized the CEO as 'surprised' that the program ended up that way. Since mid September when all this hit the fan, BofA has taken in billions in deposits. In their own candid words, they really didn't need any more cash. Now that they're $25B up, what will they do? I don't know, they didn't say. Our discussion moved to other topics from that point.

Paul, sounds like PNC is not the only bank doing this, from what you and others are saying. Basically a 2nd tier of bailouts. Banks have been consolidating at a rapid pace for years now, I bet the activity gets even more sharp now.