Bank Of America Cleaning House

Bank of America ($BAC) came out and gave an earnings report (SURPRISE!) and it wasn’t pretty. However, they have held up relatively speaking to its peers and they are offering more stock to keep their liquidity levels up. They also settled some legal woes from their Countrywide acquisition in which the deal would cover nearly 400,000 borrowers. Looks to me like they are getting all the skeletons out of the closet so they can attempt to climb higher.