Bank of America Secretly Asking Congress for a Banking Industry Bailout

Bank of America Secretly Asking Congress for a Banking Industry Bailout

www.blacklistednews.com

....A confidential proposal that Bank of America circulated to members of Congress this month provides a stunning glimpse of how quickly the industry has reversed its laissez-faire disdain for second-guessing by the government — now that it is in trouble.

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After posting a few recent economic and bank based threads, and then reading this article....I do not know what more I can say. This is the icing on the cake as far as I am concerned and bank of America is at the helm. They buy up a ton of garbage loans from Countrywide and then get the stones to privately ask the gov. to bail them out. Now you can't say that there isn't some conspiratorial action taking place. Someone high up is taking it all away. Very disheartening.

www.blacklistednews.com
(visit the link for the full news article)

If I heard correctly, Bank of America only cleared 1 million dollars in profit last year. This, I believe, is due in large part to their careless customer service representatives, and not the economic slump. The reason that I say this is because other banks seem to be doing just fine at the moment.

Maybe I'm full of it, and then again...

TheBorg

Originally posted by TheBorg
If I heard correctly, Bank of America only cleared 1 million dollars in profit last year.

well, over $120.00 over 3 years is what the bank siphoned off my account
by charging a schemeing 'check processing fee' at $3 a clip...
hidden in the mass of accounting numbers on the statements.
When i finally realized the scam, and paying for a cab ride to the main office in town, the customer rep said they would not charge me any more for the actual
cancelled checks...
but i said fees charged also included torn checks that evidently got caught in the paper sorting machine then had tobe processed by hand, incurring a $9 processing fee !!

the customer rep. sluffed all that bank nonsense off as a part of my cost
of doing business with his high falutin' bank.





oh, BoA, will try to pass off all that toxic mortgage loans they acquired from CountryWide onto the FannieMae/FreddieMac Govt. backed insurer.
they got as many tricks up their sleeve as the old RJ Reynolds did...