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Bank Of America Is Sooo Screwed

huffingtonpost.com — Bank of America Corp. revealed Thursday that it has received subpoenas and requests for information from various state and federal regulators regarding its sale of auction-rate securities.

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  • Neiby, on 08/08/2008, -8/+136Who cares about BoA? Ya gotta love Scarlett Johannsen!
    • QuadZeroRoute, on 08/08/2008, -18/+16What I cannot figure out is that it is the Huffington Post, a piece of ***** garbage...and they didn't blame Bush, Cheny or a Republican? What a shocker!
      • diggduggDOOM, on 08/08/2008, -1/+6It's an AP story.
      • thcobbs, on 08/08/2008, -4/+4That has never stopped the HuffingtonPost... they'll summarize it, spin it how they want, and then post a link to the original to make you have to go read the story twice to get a semblance of truth.

        I guess I could be wrong, but I hope this is a trend to more responsible news reporting as a whole.

      • ausfahrt, on 08/08/2008, -0/+4Why reply to that comment. Start a new comment thread.
      • Rizzler, on 08/08/2008, -2/+3Please. I'm getting a boner thinking about Scarlett and you come along preaching politics. Leave this mans thread alone, and post a new one... and yest, Ausfahrt said the same thing. I just want to toss a little more emphasis in there.

        Now, back to my boner.
      • Charlotte_Web, on 08/08/2008, -3/+3This is just an information request. BofA is not screwed. A corporation the size of BofA deals with class action lawsuits on a regular basis.

        Let's try to settle down, folks...
      • CryRightardCry, on 08/11/2008, -1/+1What I cannot figure out is how some ignorant rightard jackass of a cowardly ***** warmonger actually thinks that his moronic comments about Huffpost change ANYTHING.
        We appreciate that shilling for the Bush administration is your #1 thrill in life, but but we are also aware that you rightards haven't addressed a real issue in months, instead whining about Huffpost.

        So, too ***** to deal with content, the right wing asshats just whine about where it comes from.

        Acutally, I think you are feeling guilty for supporting the failures so blindly, that when ANYTHING even remotely GOP connected, like the mortgage crisis, and you get all flustered.
        You know what's funny? This sort of stuff is EXACTLY what the GOP promised would NEVER happen when they were pushing for deregulation in the 90's.

        Yeah, keep cheering for the lying failures, sad sack.
    • john2kx, on 08/08/2008, -1/+17Agreed.. I would ferociously tap that ass.
    • DangerCollie, on 08/08/2008, -4/+4And the award for picture not matching the story goes to....
    • Ellrick, on 08/08/2008, -1/+6But I clicked the picture, and it didnt get bigger :(

      It just redirected me to some boring article about ugly people :(
    • Sucka27, on 08/08/2008, -0/+72 in the bank 1 in the stank.
  • jstohler, on 08/08/2008, -5/+48How, exactly, is the bank screwed? According to the article: "Citigroup Inc. said it reached a settlement with the New York Attorney General and regulators to repurchase $7 billion in auction-rate securities and pay $100 million in fines." So, the bank pays a fine worth about a day's profit and moves on.
    • santaliqueur, on 08/08/2008, -8/+36On Digg, everything is a catastrophe. America is screwed, we are all going to lose our jobs tomorrow, the dollar is going to plummet to nothing. Any day now.
      • jd7seven, on 08/08/2008, -1/+14Don't forget about the meteors
      • revjustin2, on 08/08/2008, -0/+7Or the munchkins.
      • pushmouse, on 08/08/2008, -0/+6and close to earth rainbows.
      • arnoldez, on 08/08/2008, -1/+4and ?????
      • Elranzer, on 08/08/2008, -1/+4and Profit
      • Albear89, on 08/08/2008, -3/+2yeah I'm in Houston and we are going to lose our jobs tommorow. wait... it was tuesday. I work for oneof the big three shi[pment companies. I see how htis housong ***** and gas is ruining the country. what ***** planet do you live on where people are doing so well. my cusomers can;t afford the fuel surcharges are shipping less and as a result jobs are terminated. so yeah we are in a ***** of trouble right now. no brainer!
      • ronjohn, on 08/08/2008, -0/+1and election
      • stormofswords, on 08/08/2008, -0/+2my homepage is peak oil
      • dafragsta, on 08/08/2008, -1/+1Jesus built my homepage.
    • FutureGuy, on 08/08/2008, -0/+11Nothing to do with financials, didn't you see the thumb? BoA is having an affair with Scarlett Johannsen.
    • rhabd0mancer, on 08/08/2008, -1/+6The settlement was with NY. Now it's the fed's turn.
    • headbutt, on 08/08/2008, -0/+1Not to mention that relative to their competitors (e.g. Washington Mutual) this is something worth celebrating.
    • DangerCollie, on 08/08/2008, -1/+4Maybe you missed that little credit crisis thing that started a couple years ago. Some of these banks were on the edge before this came along.

      It's another 7 Billion on top of the write-downs on mortgage instruments. Could be enough to push them over the edge. There had to be jail time involved in this somewhere for them to take a deal like that at a time like this. Jail or bankruptcy? Hmmmmm.

      Or maybe it was worth $7 Bil to keep the state from doing discovery. It would be really interesting to learn what secrets were worth that much.
      • sbin, on 08/08/2008, -0/+1"What secrets were worth that much" - 8 Bln $ worth of secrets?
    • jabberwolf, on 08/08/2008, -0/+2I would agree some some points of this article but some are just sensationalistic to make you think the world is ending...

      Then this IS Huffingtonpost again, so its to be expected.
      Why dont we see more articles from Washington post or Forbes for this kind of info?
      Oh that's right, this is Digg (Sponsoring Huffington! )
    • jstohler, on 08/09/2008, -1/+1If the bank were really in trouble, their stock wouldn't have risen 2 percent today.
  • bluepill2, on 08/08/2008, -16/+7I never thought of it this way, but the Digg Effect can be VERY dangerous if it creates a "bank run". Meaning to say, if it scares enough people (like me) into withdrawing all their money out of BoA (as I'm about to do) until BoA becomes actually insolvent. Basically a self-fulfilling prophecy. *****, I dugg this. Did I just help make that happen? ...
    • ferrariman60, on 08/08/2008, -0/+6No. You didn't, and I think you're overreacting. And over estimating the size of the digg user base. You'd have to be a digg user, bank at BofA, and run and withdraw all your cash for your thing to come true. That is not a large group of people, man. And ever heard of the FDIC?
      • RobotLeAwesome, on 08/08/2008, -1/+1not even the FDIC could save us.
      • santaliqueur, on 08/08/2008, -0/+1Really? How do you know? Tell us your credentials.
      • FKnight, on 08/09/2008, -0/+1HAHAHHA The Digg Effect causing a run on the banks. Keep dreaming buddy. Most of the country doesn't even know what Digg is.
    • santaliqueur, on 08/08/2008, -1/+22It might be dangerous if Diggers had more than $30 in the bank.
    • sleepingcitizen, on 08/08/2008, -1/+7why are you withdrawing your funds? this article means little to nothing. you think the entire bank will collapse because of this??? bahahaa. and there wont be enough idiots like you withdrawing all of their money because they misunderstand an article.
    • jbarr08, on 08/08/2008, -0/+5This is the exact reason the FDIC was created. As long as you don't have over $100K in your account (doubt you do), all of your deposits are federally insured and you won't lose a dime in the unlikely event BofA defaults.
    • NCg8r, on 08/08/2008, -1/+1I'm more concerned about moving my Direct Deposit info than the bank folding and keeping my money. I think I'll sit tight and watch them brush off $100M in fines as if it was a cost of doing business....
    • FredFredrickson, on 08/08/2008, -2/+2They won't let you withdraw all your money out in one day anyway.
    • edsurfer, on 08/08/2008, -0/+1if people want to defend their monitary views then so be it, the bankin shouldnt control the economy. why are we so scared about the banks goin bankrupt? because we depend on their money on loans, cred and morages. is u dnt hav the money for it then save up. work hard for ur earnings and stop bein a jack ass by askin banks o lend u the money
  • cowboy77061, on 08/08/2008, -9/+100Johannsen has some good ***** on her.
    • KaiSe7eN, on 08/08/2008, -4/+20Why the buries Digg? Are Diggers Anti-*****? Say it ain't so.

      ***** or gtfo.
    • gaqua, on 08/08/2008, -2/+13Must be tough for such a small girl to carry them around all day. I wonder if she'd like some help.
    • Erythroxylum, on 08/08/2008, -1/+8I think that's something we can all agree on.
    • NCg8r, on 08/08/2008, -0/+1Dugg for reading my mind.
  • BXRWXR, on 08/08/2008, -2/+42Pic unrelated...
    • aigulf, on 08/08/2008, -1/+5it's also the only reason this thing has gotten to the FP.
    • dhughes, on 08/08/2008, -2/+3 Bank of America is screwed and I would like to screw Scarlett Johansson.
    • Rizzler, on 08/08/2008, -1/+5Scarlett is incredible. The tone of her skin makes my heart beat quicken. The look of her eyes catches mine for hours. The color of her hair, and the way she smiles brings me to the edge of my basement's computer chair wanting more. The succulent features of her body makes me fap the night away.

      The pic is the only reason I clicked on the title. Related, 100%.
  • GVR90, on 08/08/2008, -7/+43dugg for picture
  • pakakapa, on 08/08/2008, -10/+30fap fap fap
  • kmb1794, on 08/08/2008, -2/+26hi res please?
  • GhostWithToast, on 08/08/2008, -1/+76Is Digg using the Cuil picture engine?
  • xerograde, on 08/08/2008, -7/+32Submitter is sooo stupid.
    • Erik1, on 08/08/2008, -1/+2Or a genius plan to get more diggs.
    • Chrisnosbest, on 08/08/2008, -0/+1Bank of America will never be screwed unless they become ASSEXUAL!
  • kierucom, on 08/08/2008, -7/+34Buried for overly-sensational title.
  • JCH897, on 08/08/2008, -1/+6Read the end of the article.

    I'd say now is a better time than any to buy some shares.
    • SmartfulDodger, on 08/08/2008, -0/+1Bank of America? What about Bear Sterns....now that's where I'm gonna make a fortune!
  • rationalbeats, on 08/08/2008, -2/+47They should be charged an over draft fee of 39$ for every single security they illegally sold.

    I say that would be fair.
    • NCg8r, on 08/08/2008, -0/+7Plus fees that are the result of being negative because of the fees they applied. BoA violates Newton's laws with this little piece of "business".
    • Armageddon85, on 08/08/2008, -0/+5the $39 deal, i got 5 of those one time. WTF just deny the purchase.
      • anxcaptain, on 08/08/2008, -0/+2Thats what I said.. Its not a credit card, deny is ok
      • FKnight, on 08/09/2008, -0/+1Hey dumbasses -- how about not intentionally opening an account that has overdraft protection?
  • erichw1504, on 08/08/2008, -2/+18Title should have been: Scarlett Johansson Is Sooo Hot
  • chrissku, on 08/08/2008, -1/+5I'd say we're all screwed if this bank crisis is gets as bad as some people think it's going too.
    • Typhoon2009, on 08/08/2008, -0/+2Frankly if any of what I call the big 3 (Wachovia, Citibank, Bank of America) go down, we're in major trouble.
  • adamthebadam, on 08/08/2008, -8/+5I am Sooo taking my account elsewhere...
    • ElDiablo6870, on 08/08/2008, -0/+0Genius.
    • jakatak, on 08/08/2008, -0/+1take it to the mattress!
    • sportsstar67, on 08/08/2008, -2/+2WHY ???
    • diemunkiesdie, on 08/08/2008, -2/+1Bank runs cause economic collapses! Now I know who to blame if BoA goes under. I'm looking at you adamthebadam!
      • woobyluv, on 08/08/2008, -1/+1When the crash occurs, it won't matter if people make runs on the bank. The money just won't be there. When the dollar collapses, the Fed won't even be able to cover the losses via FDIC. Some decent advice is to maintain supplies (food, water, medicine) for at least 30 days as a buffer for what is to come and convert what wealth you have to precious metals or some other tangibly valuable commodity.
      • FKnight, on 08/09/2008, -0/+1BoA is going to have to pay a fine that, relative to them, is pocket change and you're already beyond Thunderdome.
  • thelimsh, on 08/08/2008, -2/+28BoA is so screwed that its share price is down a staggering 3 percent from Wednesday's close, is up over 3% today, and is trading about even to Monday's closing price.

    Once again, Huffington Post readers demonstrate their ability to read news articles, profoundly misunderstand the material, and somehow use their ignorance to further their left-wing agenda. As sad as that may be, what's truly lamentable is that people actually take them seriously.
    • GhostFreeman, on 08/08/2008, -0/+5This is the exact reason I gave up on AlterNet.
  • Typhoon2009, on 08/08/2008, -1/+14***** ***** ***** ***** ***** I just opened an account there yesterday!!!
    Wait, nevermind, read the first two comments. Stop with the sensationalist *****; you're scaring people.
  • xsecretfiles, on 08/08/2008, -12/+4haha I hate them!!!

    They charged me $50 dollars on a $11 dollars overdraft

    I HATE THEM!!!!!!!!!!!!!!
    • PolishLogic, on 08/08/2008, -2/+15You should hate yourself for not being able to manage your finances better.
    • aklu, on 08/08/2008, -0/+4A simple phone call could have probably avoided the issue. It's crazy how willing people are to work with you as long as you're up front and honest.

      Seriously, think about what you said. You're the problem, not the bank. Did you read the papers you signed when you opened your account?
    • drmangrum, on 08/08/2008, -0/+5You knew about the overdraft fees when you created the account?
      You failed to keep money in that account?
      You didn't have enough money, but they allowed to you make the transaction?
      You bought something you couldn't afford?

      How is this their fault?
    • aigulf, on 08/08/2008, -0/+2Are you sure the fee wasn't $39? That's the standard rate. I ask b/c 39+11=50.
  • kraftj, on 08/08/2008, -4/+12buried as retarded.
  • libman2, on 08/08/2008, -3/+1All they got to do is charge 2.8 million more overdraft fees and they will be fine. Fuk them!
    • ElDiablo6870, on 08/08/2008, -1/+1If you have a problem with over draft fees, don't overdraft your account. Or, have the overdraft option removed from your account, then you can pay for the bounce check on both ends... doofus.
  • YodaJones, on 08/08/2008, -7/+6***** Bank of America. Eat ***** and die you bastards.
  • krnldmp, on 08/08/2008, -2/+1Not every article is what it at first seems and those are some of the ones that should be buried.
  • YancyFryJr, on 08/08/2008, -2/+2Question: If the bank that I get my college loans from goes under, do I not have to repay them and thus get a free college education? Well, not free, but less expensive?
    • aklu, on 08/08/2008, -0/+5No. Your loan will be sold to another institution, and you'll have to continue making payments to them.

      If you think you're bank is going under, call them and try to settle your loan before the ***** hits the fan. If you have the cash, you can probably settle for alot less than the full amount, especially if they need capital.
    • ElDiablo6870, on 08/08/2008, -0/+1No. The obligation will remain even in the unlikely event BOA goes under and someone else buys the note.
    • Rizzler, on 08/08/2008, -0/+1Dugg for LOL.

      This is money hungry America. There is no free ride. (Especially for gas prices)
  • abozzay, on 08/08/2008, -8/+2I was worried when I saw the title, but then I saw the source... Buried as huffpo spam.
    • drunkmonkey01, on 08/08/2008, -1/+1How is that spam? It's a regular article and it just states some facts, it's not even remotely relating anything to politics.

      Did you even read the article? Sounds like you read the digg title (which is a clear overreaction and is quite misleading) and decided to come whine on the comment section even though you have no idea what you're talking about.
    • ssdded, on 08/08/2008, -1/+1Buried as dumbass. Would it have killed you to notice that it's a reprint of an Associated Press story?
  • RobotLeAwesome, on 08/08/2008, -1/+3Considering how overall I have more debt than cash I hope that all banks go under (or at least Sallie Mae - though, they aren't a bank)
    • diadem2, on 08/08/2008, -1/+2Considering I had a fraudulent charge of thousands of dollars to my checking account and the bank gave me the "not our money not our problem," I can't say I feel any sympathy either. The only reason I still have an account with them is so the records don't get deleted before I take people to court.

      Oh, and they LOST my mortgage.

      So here's to your "***** BoA"
    • necoates, on 08/08/2008, -0/+1Oh if only it worked that way, some other bank will buy the debt and you will owe them. Its amazing how the consumer is always the loser but a corps doing nothing but wrong just make money.
  • smurf22, on 08/08/2008, -2/+18Can we please go back to using actually article titles instead of this gossip magazine crap? "Bank of America is Sooo Screwed" how about "Bank Of America Subpoenaed Over Sale Of Securities" Maybe it's just me but that sounds like a more accurate title.
  • PGPirate, on 08/08/2008, -1/+4New title: Scarlett Johannsen is still hot, but has nothing to do with BoA
  • dhughes, on 08/08/2008, -0/+2 Digg started the trend of random, sometimes bizarre, pictures next to posted articles, Cuil stole their idea!
  • Badandy127, on 08/08/2008, -1/+7It seems like Huffington Post is almost happy about this...

    What a pathetic site.
    • drunkmonkey01, on 08/08/2008, -3/+1Where the ***** did you get that idea from? Did you even read the article or did you just read the retarded digg title and base your opinion on that? That article shows no signs of being for or against BoA, it just states facts.
  • papastout, on 08/08/2008, -2/+2BofA about to BuFu'd?

    Excellent!
  • leetninja, on 08/08/2008, -1/+7so judging from the (inaccurate) title and picture combination ... Bank of America slept with Scarlett Johannsen!?
    • krnldmp, on 08/08/2008, -0/+1It's a distraction designed to confuse.
  • drewniverse, on 08/08/2008, -2/+3Guess who's BoA's representative? *points at articles picture*
  • stix213, on 08/08/2008, -2/+4At first I thought "Uhhh Ohhh"..... then I noticed this was from Huffington Compost, and as you all know you have to take anything from there with a grain of salt.... usually one like this:
    http://www.foxnews.com/story/0,2933,110372,00.html
  • stix213, on 08/08/2008, -4/+3At first I thought "Uhhh Ohhh"..... then I noticed this was from Huffington Compost, and as you all know you have to take anything from there with a grain of salt.... usually one like this:
    http://www.foxnews.com/story/0,2933,110372,00.html
  • nebben, on 08/08/2008, -0/+4It looks more like Christina Applegate...
  • DenRoller12, on 08/08/2008, -2/+0More like Bank of Taliban . . . Too far??? ahahhahahaha

    http://www.digitalfuntown.com/showpage.php?showid= ...
  • customgamer, on 08/08/2008, -0/+1I agree with jstohler. How is Banc Of America screwed exactly? Many other banks have had to write off far more than Bank of America will have to in it's 2nd quarter. Look at all the law suits being thrown at UBS, Citi and Merril - you don't see them crumbling do you?

    My point being that financial "superpowers" are "superpowers" for a reason. Please inform yourself as to the whole auction rate securities situation before you pass judgment of a company based upon its stock price.
  • lanemik, on 08/08/2008, -1/+3Why does the Bank of America hate America?
  • singularityv, on 08/08/2008, -5/+6Buried for HuffPo spam.
    • ssdded, on 08/08/2008, -2/+2Comment buried because poster was too stupid to notice that this is a reprint of an Associated Press story.
  • veriix, on 08/08/2008, -1/+3Sensationalist title + hot chick icon = front page?

    God, what has happened to you digg.
  • fourty_two, on 08/08/2008, -2/+5huffingtonpost.com spam.

    Seriously, how does one submit a feature request to digg? i.e. URL filter.
    • ssdded, on 08/08/2008, -1/+1How is a reprint of an Associated Press story spam?
  • arnoldez, on 08/08/2008, -0/+1I just love the ads for Bank of America at the end of the article. Start a free checking account with BoA? Eff that!
  • bipolarruledout, on 08/08/2008, -0/+1I wonder if MBNA helped them or hurt them.
  • behlib99, on 08/08/2008, -0/+1Dug for Scarlett Johannsen
  • preban, on 08/08/2008, -0/+2What's interesting is that the Federal Reserve is loaning these banks billions of dollars. So really, Citi and BoA aren't giving anything back. Actually the American public is paying for these bogus securities.
    Oh yeah, HuffPost is engaging hyperbole at warp speed lately.
  • dafunkmonster, on 08/08/2008, -0/+2LOL ***** the BoA. I've only got 15 bucks in my account anyway. I could care less if they tank.
  • gcsmit6, on 08/08/2008, -0/+1Is that a BOA advertisement at the bottom?
  • kigcoopa84, on 08/08/2008, -1/+3abuse@digg.com - REPORT THIS CRAP
  • underdog5004, on 08/08/2008, -1/+1Here's what I think is kind of interesting:

    My girlfriend works for Radioshack. Every night, she has to take the days take to the bank. Guess which bank she takes the money to? That's right, Bank of America.

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