Comments on: Ouch, That’s Gotta Sting – Bank of America’s $20 Billion Warning Letter from Insurance Industry

By: chris

chris — Sat, 30 Oct 2010 20:37:12 +0000

Anybody know what happens when a bank goes bankrupt in regards to the the loans that are do by debtors?
I can’t think of a bank that has gone bankrupt given Shelia Bear just takes them in to recievership or something right now so I have no idea. Has it ever even happened? Just wondering. Thanks

By: John

John — Fri, 29 Oct 2010 21:54:38 +0000

if they are put out of business. how will our government that lent them 700 billion dollars get it back for us taxpayers?

That I fear will be their argument. Better to let the homeowner in default lose than the Banks and untimately paying homeowners and taxpayers, which includes us by the way.

Hope I’m wrong!

By: Officer of the Law

Officer of the Law — Fri, 29 Oct 2010 18:28:52 +0000

Get your money out of BofA and all of the big home stealing banks fast. Their liabilities far exceed their assets and I doubt that the public will put up without another bailout of these criminal bankers. If you leave any money in them, then you might never see it.

Of course, the banks’ minions in government, also known as do nothing prosecutors and regulators, could seize these banks, prosecute them for their crimes, and use their illegally obtained assets to make restitution to the victims of their massive crime spree.