Break Up Bank of America Before it Breaks Us

[marmar]

from BanksterUSA:



Break Up Bank of America Before it Breaks Us
Submitted by Mary Bottari on December 21, 2011 - 09:47


On Monday, Bank of America (BofA) stocks briefly traded for under $5. Yes, you could buy a share of BofA for less than the noxious debit card fee they tried to force down your throat.

BofA is massive, with assets equivalent to 15 percent of U.S. GDP. So why is it trading for the price of a latte?

Because Wall Street’s dirty little secret is that BofA is a zombie bank. Now the reek is getting too strong to ignore.

The Most Dangerous Bank In America?

In 2008-2009, BofA publicly took $45 billion in TARP bailout funds and secretly took another $91 billion in emergency Federal Reserve loans. According to Bloomberg News, it made $1.5 billion in profits off of those loans. Yet, several analysts predict that BofA is woefully short of capital reserves. .............(more)

The complete piece is at: http://www.banksterusa.org/content/break-bank-america-it-breaks-us

[geckosfeet]

1. Another bailout?! For BOA?!!

[div class="excerpt" style="border:1px solid #666666; width:60%;"]While some on Wall Street frame the financial crisis as events of the distant past, the 99% understand that the crisis hasn't ended for millions of Americans out of work. It hasn't ended for small businesses who can't get credit. It hasn't ended for the millions of Americans facing foreclosure. And now we learn that a new bailout of BofA could be in the works.

We learned from Ron Suskind's new book Confidence Men that President Obama ordered the breakup of Citibank at the height of the crisis, but was stonewalled by Tim Geithner. The President's instincts were good. Now he has an opportunity for a redo.

Most American's have had it with bailouts of the big banks on Wall Street when so little has been done for Main Street.
 
Banks that are "too big to fail" are too big to exist.

Break Up Bank of America Before it Breaks Us

Good grief - tell me it ain't so. If they need another bailout after this -

[div class="excerpt" style="border:1px solid #666666; width:60%;"]In 2008-2009, BofA publicly took $45 billion in TARP bailout funds and secretly took another $91 billion in emergency Federal Reserve loans. According to Bloomberg News, it made $1.5 billion in profits off of those loans.

Break Up Bank of America Before it Breaks Us

then they need to be broken up. Possibly nationalized and restructured.

[LiberalEsto]

2. All of use should buy a share or two

and flood the next stockholders meeting.

[rhett o rick]

3. They would never let that happen. nm

[LiberalEsto]

4. Anyone can buy stock

Many years ago a group of activists in New Jersey bought single shares of stock in Johnson & Johnson, which was in the process of redeveloping the daylights out of New Brunswick. In other words, tearing down viable neighborhoods and stores that stood the way of corporate "redevelopment." The activists did not amass enough shares to speak at the stockholder meeting, but they scared the crap out of J & J, which hired security guards for the event.

If several thousand activists with stock showed up at a BOA stockholder meeting, they would have to be allowed into the meeting, like it or not.