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Bank of America is going down, starting tomorrow...

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posted on Aug, 5 2011 @ 05:04 AM
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that 8.whatever settlement bank of america offered up as a settlement also came with immunity for any other misdeeds that it had done....like in the securitization process if this is the same settlement that I was reading about....
they are willing to pay the 8 billion for the robosigning and all that mess, but then they want the investors who were lied to, the mers mess, and all that swept under the carpet.
there's a few states not going for it....
the robosigning and what they are doing to the homeowners is just the result of a much bigger scam that if made clear enough would force them to buy back all those securities, not to mention make all those mortgages kind of void since they have lost the chain of ownership....
in a way I feel sorry for bank of american, they got conned by the us gov't into buying countrywide......and it was countrywide that really, really screwed up big time!!




posted on Aug, 5 2011 @ 09:51 AM
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Bank of America's (a.k.a. the evil empire) stocks are sh*t, down about 30% a couple of months ago and there are still more lossess and lawsuits coming. Plus they're losing billions because they are no long allowed to profit from overdraft fees. Predicted loss of around $27 billion in further mortgage losses by 2013. But they won't need to raise more capital until they are over a $55 billion loss. That shouldn't take too long.

As much as I'd like to see it happen I don't think they will be allowed to fail. They'll get bailed out again. The gov has already allowed these banks to lower their provision and declare dividends. But that makes no sense... you can't borrow your way out of debt!



posted on Aug, 5 2011 @ 09:55 AM
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reply to post by Vitchilo
 


BOA has been in financial trouble for years.

And it is owned by CitBank....the name might go away, but it's practices will continue.



posted on Aug, 5 2011 @ 10:01 AM
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reply to post by Vitchilo
 


You just made my day, Vitchilo!

I'll be keeping an eye on this thread as well as the news to see where this leads.



posted on Aug, 5 2011 @ 10:06 AM
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January 3, 2011
Bank of America settles with Fannie and Freddie about Countrywide loans it acquired. Vows to help homeowners who are having trouble with their mortgage.
money.cnn.com... mpaign=Feed%3A+rss%2Fmoney_latest+%28Latest+News%29

May 11, 2011
BOA buying immunity
www.bloomberg.com...

They have been having troubles for a long time. They need to go down. They have lied through their teeth about helping homeowners, then turned around and asked for immunity for their criminal antics.
I hope they rot in hell!



posted on Aug, 5 2011 @ 10:24 AM
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wel if you go online and look at bank logos i can tell you this.. bank of america and chase both look like swastikas all the stripes on the flag go one way and a circle with lines on it that make a octaginal swastika we need to take action as people and get our troops out of danger let us attack the bank

people only care as soon as moneys involved if it had any thing to do not with money at all then its left on the ground
edit on 5-8-2011 by obzerver because: obzervation



posted on Aug, 5 2011 @ 01:20 PM
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reply to post by obzerver
 


people are programmed to worship 'money' by the international bankers and their crazy religious occult beliefs. i learned a LONG time ago money is bullsh!t, and i have a ton of fun.

the trick to a fun life, is to not cradle to being forced to live a religion i never wanted to be part of. the media, books, educational system, even my freaking church [JUDEO-christian, give me a break!] is 'telling me' to be a supranationalist. but i refuse to. im not chozen, nor would i ever want to be.

the worship of money is their religion, not mine. the worship of fear, is their religion, not mine. aparthide, war, taxes are all part of their religion, not mine.



posted on Aug, 5 2011 @ 01:25 PM
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This should have happened in 2008.

Hopefully the govt doesn't step in and ruin things this time.



posted on Aug, 5 2011 @ 01:41 PM
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reply to post by Vitchilo
 


You were right, they did fall sharply during the night......and so did Fannie Mae

Now from what I understand, Fannie Mae wants $5billion+ bail out, they too are in strife!

www.marketwatch.com...
edit on 5-8-2011 by bluemirage5 because: (no reason given)



posted on Aug, 5 2011 @ 01:46 PM
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Well darn. It looks like all the social safety nets for thee most vulnerable will probably be back "on the table" again. Cuz Obama will just --have-- to bail this bank out. How could he not??? (Especially with that little control device implanted under his cranial surgery scars............)



posted on Aug, 5 2011 @ 02:05 PM
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If it's possible the government should put a lean against all of BOA's assets. Maybe that way we can recoup some of the money we wasted on these crooks.



posted on Aug, 5 2011 @ 02:07 PM
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So, as my mortgage is with BoA, how should I expect such a collapse to affect me? I mean, what happens with a mortgage held with a bank that goes under? Do I just get bought up by another lender?



posted on Aug, 5 2011 @ 02:16 PM
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Originally posted by SpencerGR
So, as my mortgage is with BoA, how should I expect such a collapse to affect me? I mean, what happens with a mortgage held with a bank that goes under? Do I just get bought up by another lender?

This is probably what's gonna happen.

The mortgages are gonna be bought by Fannie/AIG/JPMorgan/GS... we'll see when BAC ``officially`` goes down.



posted on Aug, 5 2011 @ 02:27 PM
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Too bad. I would think it'd be much more stimulating to the economy if instead of propping up a dying bank, use the money instead to bail out the American homeowner. I know I'd do a lot more spending if I didn't have to give 2k to BoA every month!



posted on Aug, 5 2011 @ 02:35 PM
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The snowball just keeps rolling and getting bigger, doesn't it? It's been rolling for 4 years now and shows no signs of stopping or slowing down. Some more effed up news about another bank:

Fannie Mae wants another $5.1 Billion from US taxpayers



posted on Aug, 5 2011 @ 02:40 PM
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Originally posted by N3k9Ni
I'm beginning to think economic collapse is an irresistible force.


They want it to happen, so they can reshape the system to fit more to their own benefit.

They are just plotting how to make as much as possible off of the collapse without anybody knowing it's them or being able to link it to them.



posted on Aug, 5 2011 @ 03:09 PM
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Let it all burn to the ground, at least then we couldn't go any further down. Then the world would end and I could go live in the woods and plant a garden and live happily ever after. If you have a Bank of America account, close your accounts now, that way it will just kill the beast faster.



posted on Aug, 5 2011 @ 03:38 PM
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Has anyone ever been a BOA customer, and if so did they get anything in the mail reguarding the multi million dollar law suit that you as a past account holder can be apart of within the past 5 yrs you can actually get paid if they win.. I'm totally gonna ride this one until the wheel falls off! Sorry I know a little off topic but I don't care if creates a worse economy.. BOA is the devil and needs to BURN!

edit on 5-8-2011 by 31Bravo because: (no reason given)



posted on Aug, 5 2011 @ 03:54 PM
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Are You Kidding... the Fed allowed BoA to suck in CountryWide mortgage and MurrellLynch (or whomever),... and now that the BoA 'TBTF bank' is gonna collapse from lack of funds ... ?
Yarr-Harr-Harr

the Fed will feed that TBTF enterprise with secret bailout money till the cows-come-home.

Why do you think i continue to have a free account there?
why am i a 'perferred coustomer' there, with the area's VP handling my needs?
its not because i'm part of the cartel... or have insider knowledge... it has to do with 'presence'


seen this crud as far back as 1990's to 1995,,,, got both a Bank of America account and a Bank One account,
with either being a nationwide ATM access provider



posted on Aug, 5 2011 @ 04:02 PM
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Bank of America Downgraded Again

Bank of America(BAC) received its second downgrade on Friday, with Standard & Poor's equity analyst Eric Oja cutting his recommendation to hold from strong buy.

SP is so full of it, they had BAC as STRONG BUY...




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