Under what authority does this guy think the government should do this? I’ve read the US Constitution and I never saw anything that said some companies are too big to fail and therefore the government can take them over at any time and run them.
And let us NOT forget that the 2012 Dem convention is being held...where you ask?..why, in North Carolina....BoA’s home state...yup Gov Perdue should have lots of fun next year..
If the existing operations are fine, then it is in the interest of the creditors to keep it running and generating income so they can be paid off. Everyone wants them to muddle through.
Not sure how warren (pay more taxes)buffett will profit from this,but rest assured he will.
Every negative story like this will cause the underlying stock to go up. Happens every time.
Big is not better. I always felt they kept acquiring banks to obfuscate the fact that they were not making money.
What I still find laughable is that when you go into a branch, they have to ask you what state you opened your account. Amazing.
Hey, BoA - How’d that Bank of Amigo strategy work out for ya?
Companies that continually make bad business decisions need to die, and not keep being bailed out by the taxpayers.
Let it go.
Rather interesting business model,
Buy up and merge with nearly every bank under the sun, then shut nearly all of them down thus eliminating the competition.
In the old west they just shot the competition.
He is frighteningly credible.
And, he did not even mention the mess with the paperwork trail and inability to convey clear title to the properties that were bundled as investments.
The multiple sales of the same properties must have been an integral part of the scheme. That is why they were not recorded at the local courthouse with the MERS. That failure allowed the multiple sales to take place.
BIG Securities FRAUD! Someone MUST GO TO JAIL.
Can someone please explain to me what happens if you have your mortgage with Bank of America? They have messed up my payments since they took over Countrywide and are threatening to forclose despite many, many letters and phone calls trying to straighten out the mess. Thanks for help from anyone.
But what would we do with the millions of tons of pure evil that Bank of America contains? Can it be recycled somehow, such as being used to build law offices? And what would we do with those hordes of incompetent employees, who are not even fit for government work?
I’d rather have a bank that was guaranteed by my state, rather than the feds. A state has real assets to back it up (land/property), and would be much easier to convert to a gold standard.
Bank of America is one of the 9 annointed banks that served the US Government during TARP. None of the 9 annointed banks will be at serious risk of failure. The Fed Gov will save them. This is how they play ball in the big leagues. Maybe Bank of America should go bankrupt but the government will not allow it. Even under a Republican president, the Federal government will not allow Bank of America to fail. The 9 annointed banks and the US government are now joined at the hip.