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Bank of America almost #1

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Bank of America Corp. is on the verge of achieving a goal it has obsessively pursued for nearly 25 years: transforming the once-tiny Charlotte, N.C., bank into a national bank with enough reach to poke its finger in the eye of every competitor in New York.

Fueled by more than 70 takeovers and a relentlessly aggressive strategy that has roiled the once-genteel banking industry, Bank of America is within striking distance of overtaking Citigroup Inc. as the world's largest bank by market value, an important yardstick for investors. As of yesterday, Citigroup was valued at $235.19 billion, only 1% higher ...


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BAC was briefly the most valuable bank in the country yesterday

http://online.wsj.com/article/BT-CO-200608...l?mod=wsjcrmain (subscription required)

It is worth mentioning that even without topping citibank B of A is the fifth largest company in the nation (by market value). Managing this massive machine from Tryon street is am amazing feat!

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This is a weird story.

According to the Bloomberg terminal, it didn't actually happen. BAC came within $800 million, but never inched ahead, not even briefly.

Reuters seems to be using a lower count of outstanding Citigroup shares -- lower than C itself reported on Tuesday. Why, I don't know.

At any rate, it's amazing that BofA is close to pulling ahead.

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