posted on Jan, 15 2009 @ 03:18 PM
BoA, even though they bought a China bank, which is prime to make money,... BoA needs additional money because- as they finally found out-
the mortgage companies (say CountryWide)
and the brokerage house BoA assimilated for $50Bn
These two financial houses had so much hidden, off-balance sheet,
Level III toxic derivatives... that was 'opaque' but 'legal' in their business structure--- that BoA has to now engage the CYA strategy
to remain 'solvent and liquid' in accordance with the rules of the Banking
here's the secret the Fed & Treas... and all the banking system is keeping
from the public....
It will take some $500 Trillion to wring-out the toxic derivatives & bogus bonds on mortgage debts to get-back-to-Zero (a theoretical 'start-over'
the Fed/Treas/money&creditSystem.... will keep pulling one-tooth-at-a-time, so all us foolish populace cross-our-fingers and have Obama's Hope,
wish for the Free-Market Faith, and believe a systemic collapse will not happen in our lifetime