Is Bank of America Gambling on Resurrection (or Is BoA Holding the US Hostage)?
What would you do if you were running an insolvent company? The smart thing is to bet big: go with a high-risk/high-return strategy. If the gamble pays off, you’re solvent, and if not, well, you’re already insolvent. You’re playing with the creditors’ money. (And without a tort of deepening insolvency, there really isn’t a clear downside for management.) This is gambling on resurrection.
We’ve seen the disastrous results of banks gambling on resurrection. That was the S&L crisis. Rising interest rates in the late ’70s decapitalized the S&Ls as the S&Ls’ assets were long-term, fixed rate mortgages that paid lower rates than the S&Ls had to pay depositors. The S&Ls, however, got a pliant Congress to agree to massive deregulation that allowed them to expand into all sorts of new business lines, like commercial real estate and race horses and junk bonds. Insolvent S&Ls went chasing high risk/high return projects. The result was that the tab for taxpayers to fix the S&L mess was significantly greater.
Today, it looks like Bank of America is repeating the S&Ls’ gamble on resurrection and using this gamble to hold the US government hostage.
Rest here…
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I will say throw all these crooks in prison by I’m afraid tha the only people that are being thrown in to prison are the people that are protesting all of these frauds, Total OWS arrested 4000
Sure they want to brutalize the Protestors for shining a light on this pigfest full of whores…. The Occupiers are waking up the people and are a threat to this sham democracy and the ongoing crime spree, the theft of our wealth and our country by the NEW WORLD ORDER…….
Readdocs, CNBC made a comment a couple of weeks ago that CHASE may buy out BOFA….The other day CNBC made a comment that one of the Big Banks could be going down but it would be irresponsible of them to say which one…They are all insolvent on paper….I hear some idiot say the Banks are just fine….BIG LIES..they BANKS are only fine until they run out people to steal from to pay their debts…..
Obama said that the American People have become lazy over the last decade and that is why there are no jobs…..LIAR…!!! THE AMERICAN PEOPLE WERE RUNNING BUSINESSES ON CREDIT….IN A CREDIT BASED SOCIETY AND THE FASCIST PULLED OUR CREDIT LINES……THEY FORCED SMALL BUSINESSES TO FAIL….TIME FOR THE U.S. TAXPAYER TO PULL THEIR CREDIT LINES….STOP PAYING THE PROPERTY TAXES AND THE MORTGAGE……STOP BUYING WHAT WE DO NOT NEED…BOYCOTT CHRISTMAS…..IF YOU WANT TO BUY, BUY AMERICAN ONLY…AND ONLY AT THE MOM AND POP SHOPS..STOP USING THE BANKS….DON’T PUT MONEY IN ANY OF THE BANKS..DO NOT US DEBIT OR CREDIT…THEY ARE TRYING TO CREAT A FRAUDULENT CASHLESS SOCIETY….DON’T VOTE FOR ANY REPUBLICANS OR DEMOCRATS……NOT ONE..DON’T PARTICIPATE IN THIS TYRANNY THAT IS INTENTIONALLY OPPRESSING ITS PEOPLE AND THE POLITICIANS ARE ALL GETTING RICH OFF OF THE BANKRUPTING OF THE AMERICAN PEOPLE…..
Ivent, Obama was referring about the US Gov becoming lazy and not help to compete in the world it was not in referring to the American people listen to the hole speech
acmodspecialist…I will try and find the entire speech…..From what I heard it sounded like he was blaming the people…Leave it to the media to spin it like that…I did not think that sounded like Obama…
No matter if Obama said it or not….they are all corrupt and worthless..The only glimmer of hope that I see in Obama is he does not blame the people…..What I do see is that they are all in on the demise of this country and are all getting more and more wealth off of it…They are ALL pigs and whores…As long as the Fed, the Banks and Wall Street are being aided and abetted by the U.S GOVERNMENT and the JUDGES and they are all working together…(FASCISM) and they can force WE THE PEOPLE to pay for all of their fraud and create wealth for themselves out of thin air….the robbery of America will continue…until we are all BANKRUPT….WALL STREET ‘S WEALTH AND THE FED’S WEALTH IS REALLY A SHAM AND A FRAUD…..IT IS ALL ELECTRONIC WEALTH….THE MONEY PRINTING BY THE FED, INFLATION AND DEFLATION IS A MIND GAME AND A TRICK…WHILE THEY EAT CAKE, WE ARE LEFT FAKE BROKE…THAT IS WHY THERE IS NO CREDIT TO START A BUSINESS AND NO JOBS FOR MAINSTREET…..THEY NEVER WANT US TO RECOVER FROM THEIR CRIMES…THIS IS AND WAS A HITLER PLAN TO STEAL EVERYTHING FROM THE PEOPLE….AND THE U.S. GOVERNMENT IS ALL IN ON IT….
Why would anyone in their right mind invest actual cash money into Wall Street???….they steal the cash and electonically lose the investors wealth…..They did it to all of us with their BULLSHIT FRAUDULENT SCAM CALLED……..ALGARITHMS….AND INSIDER TRADING…MF GLOBAL AND SOLYNDRA PROVES….THEY STEAL THE CASH….AND FILE BANKRUPTCY….THE DAY THEY BORROW IT OR AN INVESTOR INVESTS…IT IS GONE…THE SAME THING THE BANKSTERS DO….IF EVERYONE WENT TO THE BANK TO WITHDRAW THEIR CASH….IT WOULD NOT BE THERE….THEY STEAL THE CASH AND REPLACE IT WITH ELECTRONIC WEALTH…..AND SPECULATE ON IT AND LOSE IT….
That is all the banks and credit unions by the way…big and small…THEY ALL STEAL YOUR MONEY……….and turn it into electonic wealth…Stop using those credit and debit cards people or we are on our way to a cashless, microchipped society…..and then we are fucked.
yes prison, except prisons are over booked with 99%er’s to create prisoner bonds on each , the courts are selling as securities !!.
There is no legal fix for this fraud…The NWO forgot, this is the UNITED STATES OF AMERICA, AND WE HAVE THE U.S. CONSTITUTION, THE U.S. BILL OF RIGHTS…AND PROPERTY RIGHTS AND LAWS THAT PROTECT US FROM A GOVERNMENT THAT IS CORRUPT AND OPPRESSING ITS PEOPLE AND ACTING LIKE AN ILLEGAL TYRANNY……THE UN PATRIOT ACT IS AN UNCONSTITUTIONAL AND ILLEGAL ATTEMPT BY THE GOVERNMENT TO PROTECT THEMSELVES AND THEIR CRIMINAL WALL STREET PERPS FROM ALL OF US BY TRYING TO WEAKEN OUR RIGHTS …HOW ORWELLIAN OF THEM…THEY WERE OBVIOUSLY SO WORRIED THAT WE WOULD CATCH THEM AT THEIR CRIME SPREE…THEY HAVE TO CREATE AN ACT TO SPY ON WHAT_ WE_ ARE DOING….IN ORDER TO TRY AND PROTECT THEIR CRIMINAL BANKING AND WALL STREET INSTITUTIONS…CREEPY BASTARDS…….THE U.S. CONSTITUTION, THE U.S. BILL OF RIGHTS, AND OUR PROPERTY LAWS AND RIGHTS OVERRULE THEM….
thats exactly what Jon Corzine did with MF Global……so you would think other cockroaches are doing the same Hail Mary Playbook……..they are insolvent and its only a matter of time….patience
THROW ALL OF THE CROOKS IN PRISON!
A real estate manager made the comment that BoA is insolvent. This manager is with a major company.