posted on Nov, 18 2010 @ 08:21 PM
This is an interesting article i wanted to share with everyone here, i thought maybe had some meaning for us all here.
Bank of america, a lender to Lehman Brothers Holdings Inc. in september 2008must return $500 million of deposits it seized in violation of bankrupty
law, a judge ruled. "BOA's seizure of the deposited funds was an unauthorized and impermissible set-off in violation of the automatic stay in
LBHI's bankruptcy case," U.S. Bankruptcy Judge James Peck said in a decision. Lehman's lenders became "increasingly uneasy" about the investment
bank's financial health in summer 2008, Peck wrote, citing a report by examiner Anton Valukas into Lehman's failure. To mitigate its exposure, Bank
of America used its right to set off a secured collateral account posted by Lehman a few weeks before its Sept.15, 2008, bankruptcy filing, Peck
This was in the business secion of my local paper, The advocate. i found it rather interesting, as it seems BOA was so anxious and greedily
salivating to get their hands on that $500 million.. another true face of the real corporations at work*
you gotta love the commercials they put
out, credit cards theyve forced on this system for you to have, and they themselves cant even balance thier own checkbook!
another reason we shuold simply stay with paper money
Corporate greed. really after all this, BOA should jsut pull and cease putting commercials
on tv land in business terms,, imagine the embarassment* not being able to spend and boast thier stolen money
This is what america has become,
no thanks to the corporations, the banks being at the top of the list.