Bank of America Gets New Round of U.S. Aid

Bank of America Gets New Round of U.S. Aid

www.washingtonpost.com

The federal government, once again expanding public ownership of a key financial institution, will plow another $20 billion into Bank of America and limit the company's losses on some $118 billion of troubled assets, officials said early this morning.

The bailout, which comes on top of $25 billion that the government has already invested in Bank of America, is meant to help the company absorb the troubled investment bank Merrill Lynch, a deal Bank of America closed Jan. 1. Government officials pushed the banks together in September and were sympathetic when Bank of America returned in December to ask for more public assistance, according to sources familiar with the discussions.

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[edit on 16/1/2009 by Mirthful Me]

That's it folks, another bailout for the ``too big to fail`` bankrupt banks... 20 billions +++ of your money going down the drain to make a too big corporation even bigger.

Only today, I saw BoA shares go down 25%... and you want to put your money in that?

Disgusting... and that on top of the 2 trillions in 2 years of Obama..

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[edit on 16-1-2009 by Vitchilo]

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[edit on 16/1/2009 by Mirthful Me]

they're trowing with huge amounts of money at the moment,
makes you think..... is there even that much money on the world

but then again....you have a great advantage if you can print your own money

reply to post by GondelleX


is there even that much money on the world



nope

we are f#d

I don't know the actual figures, but if they create 50% of the amount of dollars in circulation in these trillions-high bailout schemes, then the value of the dollar in your pocket now goes down by 50%.

THEY ARE ROBBING YOU. GET OUT AND PROTEST THE FEDERAL RESERVE.

I want to know the names of the people in whos pocket this cash is going, frankly.

Bank of America was one of the few banks, which never got involved in the Mortgage problem by issuing bad loans to begin with. They are trying to help save other companies that got into trouble at the behest of the Government. Considering that they are actually doing the government a favor in taking on these badly indebted organizations, they should receive money for doing so. Considering that they had the foresight to not get into trouble the first time around, it’s a safe bet with them at the helm that they can save some of these companies. I would trust handing that money over to them, before I would trust allowing it to the guys who got into trouble the first time.

reply to post by defcon5


I must counter that, Not one of those banks should get a penny, (or a dollar in todays value).

The thing is, a bank that is bankrupt should claim bankruptcy. The TARP is nothing more than an unsigned check for the good ol' boys to distance themselves even further away from what was once middle class america.

There is, in fact, no Justice in our crumbling Republic,
and those that mis-managed should be indicted and tried, not given the rest of what little wealth is left. With industies working Kids overseas for 3 cents an hour, off shore accounts bursting at the seams with laundered tax-free funds, the musical chairs of Big Business in and out of the treasury, CIA, and Congress while the FED pose for Pictures and Questions, condescending smirks, more worried about supressing the desire to crack a big Cheshire Cat smile as the few Congressmen left with any Cajones knife words at them as the others recess, join the boys, lobbyists and Foreign investors at the Paulson TARP River and suck all the tit they can as the pilfered Treasure awaits the conclusion.

The S&L scandel (scherff Family theft) was finally paid off too. The last thing before the fall of any great Nation is the pilfering of the treasury.

Nibiru 2012 Treasury Pilfering America Endtime.


And another reason why the TARP should be rescinded:

Source:
The 513 trillion derivatives Ponzy Scheme.
1/2 QUADRILLION!!

Say there is 400 Million Americans.
We (every man woman and child) should EACH recieve

$1.282.500.00

That would be our share of the half-quadrillion dollars.

Government of the People By and FOR the People.

Listen to the video (link above), Quoting one of the few Congressmen whom, has integrity to call a pig with lipstick on, a pig. Most are stringing us along, as their integrity was proccessed into the perfect string needed to control the Corporate puppets that they are.

We should all have free homes, utilities, cars, clothes, etc...

Instead, we see these leeches suck every hope and dream from us and without consequence. They come back for seconds, thirds.

Next will be pandemic, dirty bomb, and civil upheaval. Then, FEMA camps, Codex Alimentarius, and Cancer, while these Rats go play hide the pickel in Dubai, or Underground.

reply to post by imd12c4funn


First, you cannot fault Bank of America for this because they are simply helping out at the behest of the government. Secondly, a big part of the reason why we are in this situation is the housing act, which Clinton modified, so that banks refusing to lend to unqualified people were opened to prosecution. With this is mind, many of the banks who did get involved with this situation, really did so because the government twisted their arms. Therefore, is it really those banks fault?

reply to post by defcon5


This is what worries me. The government played a big role in creating the problem and now they say even more government involvement is needed to fix the problem. Governments should have a role in the basic regulation of business but when it comes to bailouts or shaping the business strategy of private companies it's bad news. There comes a point where you just need to cut your losses when mistakes are made and stick true to the ideals that made the economy what it once was. If you continue making the same mistake in an attempt to make things better you can make things worse, much worse.

Seems like it didn't even do much to stop the investor exodus. More $ spent on a sinking ship. Has anyone stopped to think that if a bank is too large to let fall then maybe it's also too large to save? Does the US government really have the cash to stop these international mega banks from sinking? That's an important question, another one is how much are they willing to spend trying.

U.S. Stocks Fall as Bank of America Rescue Fails to Boost Banks


www.bloomberg.com...

reply to post by Vitchilo


The truth is that they used 25 million of the original bail out to buy into Chinas financial yes, our tax payer money to got into China investments, and the thing is that obviously the investment is not doing very well.

Also The are getting only 20 billions? did you know that they need a total of 200 billion to survive?

Well it seems that since corporate America and the financial institutions has taken over our government we will be giving tax payer money for free as they will keep sinking more and more.

So what is the use to keep wasting money on this corrupted institutions if the problems that brought them down are not fix.

Bank of America's largest stock holder is now the US Goverment with 6% ownership.

The goverment now has the strenght to call all the shots at the bank.

Goverment owned Bank!

What has the goverment ever managed that turned ou good?
If I was an invester or customer of BOA....I'd Bail Out!