Gov. says state will stop doing business with BofA

[GHook93]

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What a great idea.

Too bad we couldn't take it step further and pull all our money out of banks that continue this to play this little game. The banks are basically holding the entire counrty hostage but, if you think about it, we (collectively) have much more power than they do.

You have to be kidding me!
Do you know what this company does? They sell windows for fricking new construction residential homes! That industry is on life-support right now! It would be like a lead based paint company crying about getting denied for loan against it was announced that lead based paint causes cancer! I feel for the workers, I really do. But the economy is fucked up right now and care-free lending by the banks got us into this.

 

[GHook93]

Dosen't this just sound an awful lot like a Democrat threatening a bank with an action if said bank won't loan money to somebody they know cannot pay it back??? Don't Democrats in general deny that this happens????? Why yes, I think they do...

Those who don't pay attention to history are bound to repeat it!

It was the Democrats, like the Barney "the faggot (sorry if I offend any gays, but I hate the man)" Frank, that made the lender toss rational and risk based lending matrixes to the wind.

 

[DiveCon]

Those who do pay attention to history are bound to repeat it!

It was the Democrats, like the Barney "the faggot (sorry if I offend any gays, but I hate the man)" Frank, that made the lender toss rational and risk based lending matrixes to the wind.

i think you mean those that DONT pay attention to history

but this is so recent, how the hell could anyone forget it already

 

[DiveCon]

The company is about to go bankrupt and you want BofA to make a loan to a company that can't pay it back? Isn't that how we got into this mess in the first place?

you starting to sound more conservative of late
except your desire to nuke innocent people in Iran

 

[Angel Heart]

You know, these people are getting a raw deal. And no, it isn't right. But, the bank did nothing wrong, the company did. Further, Obama was correct in his comments, it is bad, it is sad, but, they aren't alone, it is taking place in many cities. In other words, not everyone can get bailed out. The government sadly cannot fix it, each time it happens. They company should have given the closure notice early enough to properly provide the employees with ample notice and the correct compensation. They failed to do so. They are accountable. Auction off the assets and use that to help compensate the employee's.

It is sad, it's wrong and it's happening too often.

It's always happened. Nothing new. Just more of them currently. It happened to my husband 8 yrs ago. When the dot com bomb exploded. We made it.

Also like stated before, they all will qualify for unemployment. I know it's not much but at least it's something. They will need to do what many of us have had to, live on less.

 

[DavidS]

you starting to sound more conservative of late
except your desire to nuke innocent people in Iran

This isn't ideology, this is common sense.

Who here would loan hundreds of millions of dollars to a corporation about to go bankrupt?

I mean, I feel bad for those people and all... but why would you stay at a job that's manufacturing things for NEW construction homes when we can't fill the ones we've already built? Didn't we destroy a bunch of homes in the Great Depression because we had too many homes and not enough people? And now we're doing the opposite.

 

[dilloduck]

This isn't ideology, this is common sense.

Who here would loan hundreds of millions of dollars to a corporation about to go bankrupt?

I mean, I feel bad for those people and all... but why would you stay at a job that's manufacturing things for NEW construction homes when we can't fill the ones we've already built? Didn't we destroy a bunch of homes in the Great Depression because we had too many homes and not enough people? And now we're doing the opposite.

Sit back and enjoy the ride---all these important decisions are made for us. We're too stupid to understand it I guess.

 

[DiveCon]

This isn't ideology, this is common sense.

Who here would loan hundreds of millions of dollars to a corporation about to go bankrupt?

I mean, I feel bad for those people and all... but why would you stay at a job that's manufacturing things for NEW construction homes when we can't fill the ones we've already built? Didn't we destroy a bunch of homes in the Great Depression because we had too many homes and not enough people? And now we're doing the opposite.

see why most conservatives were opposed to the bailouts from the git go?

 

[DavidS]

see why most conservatives were opposed to the bailouts from the git go?

I was opposed to it as well... HOWEVER... it does seem to be working. Things DO seem to be getting better.

 

[DiveCon]

I was opposed to it as well... HOWEVER... it does seem to be working. Things DO seem to be getting better.

it will be short lived

 

[BaronVonBigmeat]

Willow, it is the Republicans that have had the power to correct the situation for the last eight years. If this economic debacle runs the full course, it will certainly be known as the Second Great Republican Depression.

Nah, the democrats are just as incompetent as the republicans. Obama is as clueless as Bush, just like FDR was as clueless as Hoover. The depression was a bipartisan affair, and this will be too, before it's all over with.

 

[BaronVonBigmeat]

Didn't we destroy a bunch of homes in the Great Depression because we had too many homes and not enough people? And now we're doing the opposite.

We destroyed crops actually. Which was pretty dumb when people were going hungry. We don't need to destroy housing obviously, but yeah...it's got to end. Sorry, housing suppliers.

see why most conservatives were opposed to the bailouts from the git go?

So were most progressives, in all fairness. Dennis Kucinich, not Barrack Obama for example.

 

[strollingbones]

werent the repukes (just for you willow) all pissed at boa for giving credit cards to illegals...but now its all the democraps?

 

[Ravi]

Um, banks giving credit to people and businesses that weren't credit worthy was the reason we got into this mess in the first place.
If the business isn't credit worthy that's not the banks fault.

If my credit was so bad I was being denied loans by B of A would you support me in getting them anyway?

Wow, I agree with you. These seems rather a hostile move on the Gov's part.

 

[Ravi]

werent the repukes (just for you willow) all pissed at boa for giving credit cards to illegals...but now its all the democraps?

Yes, they were mightily pissed about that one.

 

[editec]

Um, banks giving credit to people and businesses that weren't credit worthy was the reason we got into this mess in the first place.
If the business isn't credit worthy that's not the banks fault.

If my credit was so bad I was being denied loans by B of A would you support me in getting them anyway?

How do you know the business isn't credit worthy?

Right now, lots of credit worthy businesses cannot get loans. Not even after the US taxpayers gave these bastard bankers billions of dollars to save their selfish asses from insolvency.

That's not the fault of the businesses seeking loans, that's the fault of the idots in Congress who gave them money no strings attached and the banks themselves.

We ought to start hanging some these captains of the banking industry.

Fucking crooks.

Now in the editecian world of finance, those businesses would step up to the FED's window to borrow the money directly.

What do we need the banks for?

They're not loaning out their money, anyway.

 

[NOBama]

How do you know the business isn't credit worthy?

Right now, lots of credit worthy businesses cannot get loans.

Exactly my first thought after reading that article.

Of course non credit worthy companies/consumers shouldn't get approved credit but, the banks have frozen the entire credit system for over a month now. Additionally, they've been reportedly using the bailout money for unintended purposes.

If their not going to loan that money to credit worthy customers they need to give it back and close their doors.

 

[WillowTree]

werent the repukes (just for you willow) all pissed at boa for giving credit cards to illegals...but now its all the democraps?

not only did BOA give them credit cards but loans for homes too! yep!

 

[RodISHI]

Bankers payoff both parties and both parties cater to the bank. Heck judges, senators and congressmen have home/biz loans too!

 

[pete]

An eye for an eye ...
BofA ought to file for Bankruptcy and lets see what the governor thinks then!!
Add another mess to the heap