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That is not what I said.

My post clarified that every Bank had to follow the same rules while the thread harped solely on Bank of America.

I retired back in 2004. The Corporation had very strict rules and guidelines in place as all Banks do. I was in Logistics, not part of the Finance Unit, but I dealt with that side of the Bank on a daily basis. You either followed Corporate wide guidelines in performing your fiduciary responsibilities or you did not work there. In fact, as a Bank Officer, I would bear personal responsibility for my actions including financial liability.

My point was that Bank of America, like any other large Financial Institution had to comply with every Government Regulation in place at the time. This crap about a lack of Banking Regulations is nothing but a Liberal Urban Myth.

If Management at Bank of America, or any other Company, violated the Law, they should face the consequences.

I am 57 years old and I have never been called “mealy mouthed” or accused of calling my peers in the Banking Industry crooks.

I await your apology.

AMEN!

I only worked in banking for ten years, but I can attest to the regulations and strict guidelines.

The problem was not the bankers, but the folks that wrote the regulations.

Suppose that this was a football game. Supposed the adjusted the rules to allow defensive backs to use a 2x4 to hit the receiver running downfield. 99% of the backs would not use the lumber. But we all know that there would be one team that issued really nice, oak 2x4s. Something that would really do the job.

Before long, everyone would be using the 2x4s because they wanted to win.

Yes, it is horrible to hit a receiver with a 2x4, but its in the rules. So they are just playing by the rules. Are you blaming the defensive back? Are you blaming the coaches? Or the owners?

Or do you blame the guys that changed the rules?