This IS a backdoor bailout, already.
The FED went over the heads of FDIC. The FDIC wanted nothing to do with this.
This was arranged so that the taxpayers take the brunt of the damage. Do you really think Congress can vote to NOT save ALL those deposits of BofA customers?
This is to put the politicians between a rock and a hard place.
And all you Freepers who think your save because you could still access your BofA accounts, wake up!!!!!
Normal accounts are FDIC insured to $250,000.
So how is it people with normal checking/savings accounts will lose their money if BofA dies?