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A look at the non-seasonally adjusted time series indicates that last week’s spike in M2, primarily in demand and savings deposits at commercial banks, was the highest on record! Sure enough, the bulk of this cash ended up in America’s largest depository institution, Bank of America. And yes, this was in the week prior to the massive market rout. Yet as the charts show, following every massive inflow of money into demand deposits and savings accounts, it goes right back out the next week. Which is why we wonder: is Bank of America, so flush with cash a week ago courtesy of the debt ceiling fiasco, suddenly cashless,
Originally posted by mnemeth1
They told me their systems were down and that I could only withdrawl 200 bucks.
A spokesperson from the bank confirms that technical difficulties have occurred across Southern California, citing a "mainframe issue".
A Bank of America mainframe computer malfunctioned, leaving an unspecified number of customers in the Los Angeles area temporarily unable to access account information online, by telephone, via ATM or at branches.
Originally posted by jtma508
What I want to know is why is anyone on ATS still banking with BOA?? They are part of the group that bent the American Public over and rammed it home. I moved every account I could out of BOA and into a small local bank. All they have left is my mortgage which I'd move if I could. Anyone who got bailouts, who was heavily into the forclosure raping of America and who paid out big bonuses to Sr. Mgmt. should be abandoned. Those still banking with them are jast aiding and abetting the enemy.
Do the right thing. Move your accounts.