Banks Preparing to Dump Debt on Taxpayer

Discussion in 'Politics' started by WatertheTree, Oct 25, 2011.

  1. WatertheTree
    Offline

    WatertheTree Senior Member

    Joined:
    Sep 9, 2011
    Messages:
    1,804
    Thanks Received:
    167
    Trophy Points:
    48
    Ratings:
    +167
    Is Bank of America preparing for a Chapter 11? | Reuters

    Say hello to another bank bailout, this one just indirect.

    We are a nation of complacent and apathetic cowards, our founders would be so dissapointed.
     
  2. Wry Catcher
    Offline

    Wry Catcher Platinum Member

    Joined:
    Aug 3, 2009
    Messages:
    31,737
    Thanks Received:
    4,240
    Trophy Points:
    1,160
    Location:
    San Francisco Bay Area
    Ratings:
    +8,148
    A. P. Giannini would be appalled. It's past time to close all BofA accounts and credit cards and move your assets to a credit union or local bank. Too big to fail was yesterday, take YOUR money and run.
     
  3. Mad Scientist
    Offline

    Mad Scientist Deplorable Gold Supporting Member Supporting Member

    Joined:
    Sep 15, 2008
    Messages:
    23,938
    Thanks Received:
    5,211
    Trophy Points:
    270
    Ratings:
    +7,678
    Why should I care about this shit when there are more important things going on right now, like the World Series?

    And did you guys see that football game last night? Wow!
     
    • Thank You! Thank You! x 1
  4. LordBrownTrout
    Offline

    LordBrownTrout Gold Member

    Joined:
    Nov 25, 2007
    Messages:
    15,490
    Thanks Received:
    2,962
    Trophy Points:
    280
    Location:
    South Texas
    Ratings:
    +6,352
    I prefer watching a college football game rather than the mass incompetence on display in Washington.
     
  5. Mad Scientist
    Offline

    Mad Scientist Deplorable Gold Supporting Member Supporting Member

    Joined:
    Sep 15, 2008
    Messages:
    23,938
    Thanks Received:
    5,211
    Trophy Points:
    270
    Ratings:
    +7,678
    If a college team looses a game, your life is unchanged.

    But when Congress "looses", we're all fucked! So tell us which is more important?
     
  6. ScreamingEagle
    Offline

    ScreamingEagle Gold Member

    Joined:
    Jul 5, 2004
    Messages:
    12,885
    Thanks Received:
    1,609
    Trophy Points:
    245
    Ratings:
    +2,158
    damn maybe it's just a PET PEEVE of mine....but these words seem to be continually misued...

    lose.....means something gets gone.....like "he will lose the election next year"...."the team loses again"...

    loose.....means something gets free......like "set loose the dogs"...."loose the missles now"...

    pertinent to this thread.....the banks will loose their bills upon the taxpayers and once again the taxpayers will lose....
     
  7. WatertheTree
    Offline

    WatertheTree Senior Member

    Joined:
    Sep 9, 2011
    Messages:
    1,804
    Thanks Received:
    167
    Trophy Points:
    48
    Ratings:
    +167
    Great thinkers and historians agree, you can do anything to a population so long as you continue to provide them with two things:

    Food and Entertainment.
     
  8. flacaltenn
    Offline

    flacaltenn USMB Mod Staff Member Gold Supporting Member

    Joined:
    Jun 9, 2011
    Messages:
    30,026
    Thanks Received:
    4,653
    Trophy Points:
    1,130
    Location:
    Hillbilly Hollywood, Tenn
    Ratings:
    +13,343
    Makes no sense to try and save Merril Lynch and sink the larger parent. Or put it into Chapter 11.

    We don't even know that those derivatives are based on mortgages or endangered assets. My guess is that BofA is just playing the split between Fed Policy and FDIC policy and taking advantage of the internal feuding.. I'd be surprised if FDIC would EVER really protect those internal corporate assets.
     
  9. Avorysuds
    Offline

    Avorysuds Gold Member

    Joined:
    Jul 4, 2010
    Messages:
    13,834
    Thanks Received:
    1,655
    Trophy Points:
    245
    Location:
    Eugene Oregon
    Ratings:
    +2,141
    How can all this be after Obama saved America so many times....


    Someone the O-Sign at the sky! We need to be saved again because the last time... I'll just end it there.
     

Share This Page