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Die, Bank of America

Discussion in 'Sports and News' started by hondo, Jun 18, 2013.

  1. hondo

    hondo Well-Known Member


    If just a smidge of this is true, Bank of America execs should occupy their own little circle of hell.

    Swine. It's shit like this that keep pushing me away from the Republican party.
  2. old_tony

    old_tony Well-Known Member

    Why does a Bank behaving badly reflect on the Republican Party? Just curious.
  3. LongTimeListener

    LongTimeListener Well-Known Member


    Obama hasn't done anything but talked tough and taken their money in campaign contributions. Unleash Elizabeth Warren and we can talk, but until then it's bipartisan failure and the #1 example of what money can do in Washington.
  4. old_tony

    old_tony Well-Known Member

  5. hondo

    hondo Well-Known Member

    Because all of the bad economic shit started on W's watch, that's why. And how many Democrats do you think are in the hierarchy of Bank of America?
  6. Starman

    Starman Well-Known Member

    I switched banks TWICE to get away from BOA. Both times they bought up the new bank.

    I am in the process of switching to a CU to get away from them altogether.
  7. Baron Scicluna

    Baron Scicluna Well-Known Member

    My mother and my wife each had BofA accounts, with myself as the secondary owner for both. Several times, my mom would put deposits in her account, only to discover that the money ended up in my wife's account.

    Several times, we had to go to our local branch, which told us to contact the national hotline number. So Mom does that, and is told, "Why don't you have your son or your daughter-in-law write you out a check." Mom blew up, told them that it was their own damn fault, and why should we correct something that they screwed up, multiple times. She switched banks.
  8. deskslave

    deskslave Active Member

    HSBC has just been penalized in New York for basically stalling the loan modification process for months on end by failing to file the paperwork to put the legal process in motion, often with the result that by the time the process did start, the loan holders were no longer eligible for modifications.

    They all do it, in other words. And they have enablers on both sides of the U.S. political aisle. But there really can't be any question on which side of that aisle more of those enablers are to be found. The perception that the Republican Party is the party that defends the banks is incomplete, to be sure. But it's also not entirely inaccurate.
  9. cyclingwriter

    cyclingwriter Active Member

    I did the same thing. Terrible bank.
  10. hondo

    hondo Well-Known Member

    You're right. Politicians and bankers on both sides are swine.
  11. The Big Ragu

    The Big Ragu Moderator Staff Member

    There are no winners here.

    All of the supposed victims are people who had defaulted on loans. You could take out a loan you should have known you couldn't afford, never made a payment, and been living there for, say, two years in default and have been eligible for this subsidy the rest of us pay for.

    Bank of America made some of the worst loans prior to the housing collapse, and was in particularly bad financial shape in the aftermath. It should have never been bailed out at our expense, and should have gone belly up. Thank a corrupt government for giving them preference.

    By the same token, we shouldn't have "loan modification" programs that are essentially the same thing. If you took out a foolish loan and defaulted, or if you made a risk-reward calculation (in which case you are fully aware of the risk of default and the consequences going in, and had calculated the chances of you defaulting given your financial situation) and chose to take the risk, you shouldn't be bailed out at the expense of everyone else.
  12. LongTimeListener

    LongTimeListener Well-Known Member

    It's too bad that Bloomberg cover was such racist trash, because the story connected to it was excellent and predicted the current "resurgence" in the housing market. We are doing many of the same things.
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