Bank of America Corp (BAC): Does Obama Hate It?

When we put it all together, we can say the following: President Obama doesn’t bank personally with Bank of America Corp (NYSE:BAC), but he is willing to give them business. He received some campaign support, but not nearly as much as his opponent received. And he doesn’t have a whole lot to say specifically about the bank, but he’s ready to jump on it when politically expedient.

Which, if we shoved that through a word-crunching sausage maker, probably yields a very un-shocking conclusion. That is, that the president doesn’t have much of a tightly held opinion on B of A except to the extent that it helps his ends. What are his ends? When it comes to B of A, I’d say it boils down to helping the economy get back on track, and making the banking sector appear to be adhering to and benefiting from the industry changes that have come about during his administration.

Sure, you can interpret it more cynically. But if I’m right, and that’s really the calculus behind his view on B of A, then his bottom line is one that is in-line with a positive bottom line for the bank — and the economy as a whole. And it’s hard to argue with that.

The article Does Obama Hate Bank of America? originally appeared on Fool.com.

Matt Koppenheffer owns shares of Goldman Sachs, Bank of America, and Morgan Stanley. The Motley Fool recommends Goldman Sachs and Wells Fargo. The Motley Fool owns shares of Bank of America, JPMorgan Chase, and Wells Fargo.

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