In response to a Fed request about what it could do if its situation worsens, BofA (BAC) has...

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tjohn1 Comments (152)
 
The Fed rescuing Bank America once again? Did not the Fed learn any thing? If this monstrosity called Bank America fails, it is because of its own doing. The wages of sin is death. The Fed should not be the Savior.
2 Sep 2011, 04:39 AM Reply Like

Moon Kil Woong Comments (8898)
 
Bank of America should spin off Merrill Lynch. The management is still in denial and believes they can let the ship sink slowly to profit on their salary and bonuses until the end like Lehman. They are no doubt certain that the government will take them over then and give them all golden parachutes or let them stay like in Citibank.

Given the terrible way government manages companies they control perhaps they are right. Government is basically unable to change. Look at Obama. He has kept Bush Jr. officers in place even though he lambasted them before election. He like government has no solutions and don't want the blame for taking any action. Obama is a failure for not what he did but what he didn't do.
2 Sep 2011, 05:53 AM Reply Like

daro Comments (1279)
 
I agree. is this a sign that BAC is in any worse shape than it has been or is the fed just responding to the stock price dropping. I assume the latter.
2 Sep 2011, 06:18 AM Reply Like

NormT Comments (118)
 
We are only getting insider junk and they know less than the general public. Insiders want to continue manipulating the market. All the please buy my thoughts are bad mouthing the government to get back to no controls. The support is for Republican Party continuation of no intervention with no regard for those unemployed. Large cities are now having problems with the poor minorities and this is going to be interesting how the Republican Party is going to cure this problem. Bring in more foreigners that will work for less, that will to add to less purchasing power. Now the large stores are adding to the cost of goods that they expect to take place. Will Safeway start abusing those that cannot pay their higher prices, but buy their specials?
2 Sep 2011, 07:20 AM Reply Like

castle Comments (95)
 
Shame on BOA for not doing there do diligence. Of course the borrower who lied about his income should have his principal reduced so he can stay in his home. Poor victim
2 Sep 2011, 07:34 AM Reply Like

User 158730 Comments (3)
 
The banks which bought the mortgage packages and bundles from BofA and others had the obligation to do their due diligence too. They were greedy for income. Surely some part of the responsibility for the débâcle must fall upon other intermediaries as well.
12 Mar 2012, 07:54 AM Reply Like