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Thread: BofA: A Giant, Raging Hurricane of Theft and Fraud

  1. #1
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    Default BofA: A Giant, Raging Hurricane of Theft and Fraud

    BofA: A Giant, Raging Hurricane of Theft and Fraud

    "There are two things every American needs to know about Bank of America. The first is that it’s corrupt. This bank has systematically defrauded almost everyone with whom it has a significant business relationship, cheating investors, insurers, homeowners, shareholders, depositors, and the state. It is a giant, raging hurricane of theft and fraud, spinning its way through America and leaving a massive trail of wiped-out retirees and foreclosed-upon families in its wake.

    The second is that all of us, as taxpayers, are keeping that hurricane raging.

    Click title for more.
    "But none of the wicked shall understand [that the End of the Age is upon them]."
    [Daniel 12:10b]

  2. #2
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    Well, they absorbed Countrywide, Merrill, and currently are expanding their banking operations to international, specifically Asian Rim markets, which I would opine is a new means of cooking cooked books, creating artificial buffers more difficult to penetrate when their deriviatives exposure comes home to roost. Remember, when the deal was cut for them to absorb Merrill, (in quid pro quo), the longstanding regulatory firewall between domestic depositor's funds and commercial investment banking was immediately removed for all of them, as a means of creative accounting to increase assets and leverage.

    Haven't read the article, and it may or may not be spin, but BoA is a reeling juggernaut, shot full of holes. Not that the others are so much better, but to me this current international expansion spells desperation. Who knows, it may even be a means of quickly moving all the golden parachutes offshore for the execs, because they know.

    Tras
    "They who have put out the people's eyes reproach them of their blindness."
    John Milton, 1642

  3. #3
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    One way for an individual to recoup any real, or perceived losses would have been to buy some BAC stock, as they are up about 70% so far this year.

    Jim
    "It riles them to believe that you perceive the web they weave. Keep on thinking free"... -Moody Blues.

    "Woe is us who deign to suffer, the silly rantings of some other..." -Turnpike Jim

    "I deal with reality as it occurs, everyday...."-Turnpike Jim

    Doomed, I say...

  4. #4
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    And the financial markets are thriving, the economy is growing, UNemployment numbers are "down", the FED is not re-hypothecating the majority of "US" debt into inflationary shell games mathematically doomed to catastrophic failure, the Euro-zone is out of the woods, zero is a great leader good for America, BoA did NOT radically cook the books to jump start their stock again, and while you have a bundle of "70%" gains from BoA to reinvest, I have a gorgeous bridge for sale. Knock yourself out. No, really. Remember, you MUST leave it there long term to make a "wise investment."

    "They who have put out the people's eyes reproach them of their blindness."
    John Milton, 1642

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