Posted on 03/04/2009 8:00:35 AM PST by Neil Peart
This is the story of a bank. It wasn’t one of those irresponsible banks that rode the subprime boom until the bottom fell out. It was a bank that hedged its risks, a bank that made sure its balance sheets added up.
(Excerpt) Read more at townhall.com ...
I live in Charlotte, NC home of B of A, and Wachovia (now Wells Fargo thanks to a very similar government situation!).
There are thousands of jobs at risk - high-paying, professional level jobs not just in banking, but touching all other white collar industries - lawyers, technology, other associated traders, etc. If B of A fails, Charlotte will go from a rising star in the south to a ghost town.
Oh well. They were stupid enough to believe the Feds.
Sucks to be them.
L
Perhaps it’s just me, but after watching the federal government at all levels for well of 50 years now I get the feeling that once it gets involved in anything it’s the kiss of death. I know there are exceptions, but they are few and far between, and mostly from 20 years or more ago.
Lord, deliver us from the government’s attempts to help us!
It wasn't one of those irresponsible banks that rode the subprime boom until the bottom fell out. It was a bank that hedged its risks, a bank that made sure its balance sheets added up.
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