An earnings bomb is a good time to get things done. Under the cover of mega-change, you can make a lot happen. So it is that Bank of America is taking the opportunity to make some strategic moves in the wake of its "end of investment banking" restructuring. The latest news was that it will end its broker-sold mortgage business to concentrate on its direct sales. Now that wasn't strictly related to investment banking, where the biggest moves are expected. One could infer that this was going to happen anyway, and now is as good a time as any. Bank of America will continue to be a powerhouse in retail mortgages. It will be interesting to see how Bank of America changes the post loan business, the packaging and sales aspect. The bank generates a lot of product. Not to maximize profit from those products would be a waste. Stay tuned.  

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