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After Brian Moynihan took over as CEO of Bank of America on December 16, 2009 he said that the
nation’s biggest bank would do better when it comes to lending to the American people and
stopping unnecessary foreclosures. By any measure Moynihan and Bank of America have failed.
What the bank has done is use taxpayer subsidies to rake in billions in excessive profits, while
ordinary Americans struggle.
Today's front page New York Times story about Bank of America illegally breaking into people's homes and taking their possessions is a painful reminder that many American families are spending the holiday season desperately trying to save their homes.
The system seems stacked against ordinary people, but the tide is beginning to turn with the attorney generals stepping up their investigation into mortgage fraud, growing public anger, more-and-more lawsuits and this week's confirmation from WikiLeaks that it plans to release a trove of internal Bank of America documents early next year.