[nbhunt]

QUESTION: Was BOA the bank that was handing out credit cards and banking accounts to people who could not prove they were legal cititzens and no credit history needed?

[GrandmaPatriot]

Yes and it couldn’t happen to a more deserving institution. I just fear Paulsen will come riding to the rescue of BoA again.

[EGPWS]

Was BOA the bank that was handing out credit cards and banking accounts to people who could not prove they were legal cititzens and no credit history needed?

Wasn't it ALL banks handing out credit to credit handling dysfunctional recipients via order of dictate from Washington?

[Neidermeyer]

QUESTION: Was BOA the bank that was handing out credit cards and banking accounts to people who could not prove they were legal cititzens and no credit history needed?
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Yeah ,, they seemed to have a contest going with WAMU to see how many illegals they could sign...

[Republic of Texas]

Yes. The Bank of South America was doing that.

[Boiling Pots]

They actively geared their marketing efforts to illegals...placing ads in Spanish tv, radio, signs, etc.

[cherry]

after the first bail out back in october, the local BOA people had a big party at PfChangs.....drinking and eating like drunken sailors.....

[JasonC]

BoA is fine, it is Merrill that is dragging them down. BoA added about twice as much to loss reserves last quarter as they lost on their own operations, and both figures are moderate and sustainable. But they just completed the takeover of Merrill Lynch, and Merrill lost $15 billion in the last 3 months alone.

Oh and B of A took over Merrill at the Fed's request, the weekend that Lehman went down, to keep it from spreading. Its spreading anyway, and the Fed and treasury are barely supporting their own agents and seconds.