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

[hvactec]

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

 

[Trajan]

I would be interested in this if you had a link to an article, thx.

 

[iamwhatiseem]

BofA Said to Split Regulators Over Moving Merrill Derivatives to Bank Unit- Bloomberg

Bank of America Derivatives Transfer Draws Lawmaker Scrutiny - BusinessWeek

BofA’s $55T wager: Shift of dodgy derivatives pits FDIC vs. Fed - NYPOST.com

WHich is why it is too bad that the OWS are a bunch of kids with no organization and no point.
We should all be OWS.

 

[iamwhatiseem]

And we thought they only stole money from 401k accounts...peanuts compared to this.
Yet...nothing from lawmakers or the MSM....

 

[CrusaderFrank]

FDIC Insurance, another FDR Depression idea that needs to be scrapped

 

[hvactec]

I would be interested in this if you had a link to an article, thx.

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

 

[Trajan]

And we thought they only stole money from 401k accounts...peanuts compared to this.
Yet...nothing from lawmakers or the MSM....

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.