Bank of America's Death Rattle 11/29/2011 real news

Discussion in 'Media' started by hvactec, Oct 29, 2011.

  1. hvactec
    Offline

    hvactec VIP Member

    Joined:
    Jan 17, 2010
    Messages:
    1,315
    Thanks Received:
    106
    Trophy Points:
    83
    Location:
    New Jersey
    Ratings:
    +132
    Bill Black: BAC, has directed troubled financial derivatives from its Merrill Lynch subsidiary to federally insured bank Bank of America making private debt public
    yes 10/29/2011

     
    • Thank You! Thank You! x 1
    Last edited by a moderator: Aug 19, 2014
  2. Trajan
    Offline

    Trajan conscientia mille testes

    Joined:
    Jun 17, 2010
    Messages:
    29,048
    Thanks Received:
    4,751
    Trophy Points:
    48
    Location:
    The Bay Area Soviet
    Ratings:
    +4,756
    I would be interested in this if you had a link to an article, thx.
     
  3. iamwhatiseem
    Offline

    iamwhatiseem Gold Member

    Joined:
    Aug 19, 2010
    Messages:
    14,833
    Thanks Received:
    3,114
    Trophy Points:
    280
    Location:
    Virginia
    Ratings:
    +6,128
  4. iamwhatiseem
    Offline

    iamwhatiseem Gold Member

    Joined:
    Aug 19, 2010
    Messages:
    14,833
    Thanks Received:
    3,114
    Trophy Points:
    280
    Location:
    Virginia
    Ratings:
    +6,128
    And we thought they only stole money from 401k accounts...peanuts compared to this.
    Yet...nothing from lawmakers or the MSM....
     
  5. CrusaderFrank
    Offline

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    81,269
    Thanks Received:
    14,920
    Trophy Points:
    2,210
    Ratings:
    +37,076
    FDIC Insurance, another FDR Depression idea that needs to be scrapped
     
  6. hvactec
    Offline

    hvactec VIP Member

    Joined:
    Jan 17, 2010
    Messages:
    1,315
    Thanks Received:
    106
    Trophy Points:
    83
    Location:
    New Jersey
    Ratings:
    +132
    Not with a Bang, but a Whimper: Bank of America’s Death Rattle - here - ( The story reports that the Federal Reserve supported the transfer )
    Not with a Bang, but a Whimper: Bank of America
     
    Last edited: Oct 29, 2011
  7. Trajan
    Offline

    Trajan conscientia mille testes

    Joined:
    Jun 17, 2010
    Messages:
    29,048
    Thanks Received:
    4,751
    Trophy Points:
    48
    Location:
    The Bay Area Soviet
    Ratings:
    +4,756
    Iam, how long ago did I say BAC would need a tarp? this is just a backhanded way of getting tarp to cover their losses, minus calling it tarp...........

    “The concern is that there is always an enormous temptation to dump the losers on the insured institution,” said William Black, professor of economics and law at the University of Missouri-Kansas City and a former bank regulator. “We should have fairly tight restrictions on that.”

    and-

    Bank of America posted a $6.2 billion third-quarter profit today, compared with a loss of $7.3 billion a year earlier, as credit quality improved and the firm booked one-time accounting gains. The lender rose 7.3 percent to $6.47 at 1:54 p.m. in New York trading, making it the day’s best performer in the Dow Jones Industrial Average. Credit-default swaps on Bank of America eased 10 basis points to a mid-price of 380 as of 11:49 a.m. in New York, according to broker Phoenix Partners Group.

    no, not only no, but f&ck no.
     
    Last edited: Oct 29, 2011

Share This Page