F*THE BANK$ | Matt Taibbi: Bank of America is a “raging hurricane of theft and fraud”

There are two things every American needs to know about Bank of America.

Matt Taibbi speaking at an Occupy Wall Street day of action, February 29th, 2012. He wrote this article for OWS, and passed it out to the crowd. It’s an informative and urgent call to action for Americans from all walks of life.

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. Bank of America is not just a private company that systematically steals from American citizens: it’s a de facto ward of the state that depends heavily upon public support to stay in business. In fact, without the continued generosity of us taxpayers, and the extraordinary indulgence of our regulators and elected officials, this company long ago would have been swallowed up by scandal, mismanagement, prosecution and litigation, and gone out of business. It would have been liquidated and its component parts sold off, perhaps into a series of smaller regional businesses that would have more respect for the law, and be more responsive to their customers.

Rest here…



2 Responses to “F*THE BANK$ | Matt Taibbi: Bank of America is a “raging hurricane of theft and fraud””
  1. Wayne says:

    so tell me Why hasn’t anything been done? I know it, you know it, they know it, we all fk’n know it. Why won’t they tell us the truth?
    A psychiatrist once said, if you get caught in bed with another women by your wife, lie to her and if she still Loves you she will believe you.
    With that said, If the government lies to us, do we love our government that much to believe them? I say FK NO.
    Like Jesse Ventura says. don’t believe one thing that our government is telling us. How did it ever get to this point?
    Like the 4 or 5 up on the Republican Stage …. How pathetic can one or a group of them get?

  2. leapfrog says:

    “Allow failure to fail.”

    LOVE it.

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