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42 Comments
- krekc, on 01/16/2009, -2/+30Where is all this money going? Where all the digg whiners now that BoA needs more money and were screaming about the Automotive loans?
- inactive, on 01/17/2009, -0/+20Government, government...if I ever end up in dire financial straits, my option is bankruptcy, right? Why can't I get a bailout, too? Oh, that's right, I'm not "too big to fail."
***** collectivist corporatist ideology. - inactive, on 01/17/2009, -1/+16In Soviet United States, banks borrow from you!
- WilliamDavis, on 01/17/2009, -0/+13"showed why BofA needed government help to support its acquisition."
Man, that's stupid. It didn't "need" government help to buy something overpriced that it couldn't afford anyway. What a bunch of crap. - LokitheComplex, on 01/17/2009, -3/+13So is the US unofficially communist now?
- dheeruyadav, on 01/16/2009, -1/+11Even after such a big mess u..these guys are not learning anything. soon their will be US govt bailout needed.
- AlbinoRaven, on 01/16/2009, -1/+10I'm so glad I shorted this PoS.
Over valued, under run, pos. - olenick, on 01/17/2009, -0/+9We better save them or they'll raise the interest rates of borrowers in good standing to 30 percent! What? They already did that. Oh -- well ... if we don't save them they'll refuse to modify home loans and march forward with unnecessary foreclosures, claiming that their ads about foreclosure mitigation are "puffing." Huh? They did that too? Well ... if we don't save them they'll lie to their own shareholders by not promptly disclosing material liabilities! Oh, they've also done that...? Hmmmm... Well; they're too big to fail! (and, besides, they've contributed a lot of money to politicians)
- alanocu, on 01/16/2009, -1/+9There will never be shortage of digg whiners or digg screamers. That's why it's never quiet in here... and you never hear the echo.
- ThantiK, on 01/17/2009, -0/+8So, Bank of America makes a stupid acquisition by buying a company that is posting record losses and is on the virge of going bankrupt - then BoA asks for a bailout to help save them because they made a stupid decision?
If BoA gets any "bailout" money (read: hand-out money) - I quit life. Seriously. - reeds1999, on 01/17/2009, -0/+7The US Treasury Department proves the old adage that:
"If you take fools and educate them, you end up with educated fools" - endgame, on 01/17/2009, -0/+7***** BoA that company is actually hurting America. It has numerous back dealings with Iran, as well as a plethora of outstanding loans given to illegal immigrants. I hate to see people lose there jobs but BoA is a horrible bank!
- gr8spAcstr, on 01/17/2009, -1/+8That's right, comrade.
- hugolp, on 01/17/2009, -0/+6Yes, because having this useless banks going bankrupt and allowing efficient banks to take their place is not an option, right?
- inactive, on 01/17/2009, -0/+6I know their problems are bad for the economy, but after all the times when they've acted like a big ***** monolithic ***** to me, part of me is going ha-ha, eat ***** ***** you. Can't believe at a time when everything's so precarious they decided to be a big shot and make that grab, and now they have the audacity, eh, balls to ask to cover their asses?
how long before we start making some of these actual people in charge really pay? some homeless guy in Georgia or wherever walks out of a store with a $100 bill and returns it the next day, but still gets a hundred years, but these thieving sociopaths personally murder the entire economy and walk? I'm sure it won't be long before stories of vigilantes start making the news, and I can't wait. too little too late, but it will bring a little joy to my life.
I am so out of this goddamned self-important deluded country. BoA is the personification of our arrogance and myopia. no idea if there's any place better but I just can't stay here anymore. - Metasquares, on 01/17/2009, -0/+6The loans, and particularly that attitude towards them, were what caused this in the first place.
- schnikies79, on 01/17/2009, -0/+6Without the Armed Forces, the U.S. would cease to exist.
You can debate size all you want, but every country needs a Military. - Tearlock, on 01/17/2009, -0/+5Ok so BofA and Citi are welfare mothers. Will Chase be next?
- badqat, on 01/17/2009, -2/+7Actually, of those three things, only the military is authorized by the U.S. Constitution. And we sort of need it...
- ScottMitchell, on 01/17/2009, -0/+5Why do you think BofA bought Merrill? It made them too big to fail and they likely had some backroom guarantee from the Fed and Treasury that if they buy Merrill to soften the CDS blow, then the Fed will do everything in its power to keep BoA afloat.
- gmcgehee, on 01/17/2009, -0/+5What's not being reported is that I finally paid of my B of A Mastercard last year. I think they were making 90% of their total profits off of my account!
- hugolp, on 01/17/2009, -0/+3"Too big to fail, so ***** pay"
- inactive, on 01/17/2009, -2/+5I just want to pay my tuition loans! Crap I have a degree and I am broke
- inactive, on 01/18/2009, -0/+2Don't worry, this socialist self-importance is even more rampant in other countries. Look's like we're stuck and *****.
- inactive, on 01/17/2009, -2/+4Actually only the navy is authorized by the constitution.
- nextekcarl, on 01/17/2009, -1/+3That was actually funny.
- zomgflamer, on 01/18/2009, -0/+2after several years in the market, i've come to the conclusion that you'd make more money shorting stocks. But who hasn't made money shorting for the last one year.
I got out of it after June but i thought the SEC blocked shorting. - ren1999, on 01/18/2009, -0/+2I have a question while our corrupt government is sliding over our tax dollars to their corrupt executive friends who will use the money to pay salary and bonuses. Where are the tax dollars that were supposed to help people save their homes?
- AlbinoRaven, on 01/16/2009, -3/+4That's easy. Get rid of a couple of things. Social Security, Medicare, Armed Forces. That's a good start.
- DarkShroud, on 01/18/2009, -0/+1No, Chase is owned by JP Morgan who hasn't been stupid with money, that we know of.
- freakFlag, on 01/17/2009, -1/+2Let us never forget the major ***** by the SEC and our last 8 years of the heehaa administration. They have done this to us for a reason. If you live in Kansas City, have you been noticing the black helicopters with the thermal tip on the nose? They are preparing for something big, so I'm warning you all get prepared, arm to the teeth and don't forget the iodine tabs when the water is poisoned in your city.
- AlbinoRaven, on 01/18/2009, -0/+1They did until the beginning of October.
Ya the last year has been awesome shorting stocks. I raped Palm and BGX this week. I did have my stocks sold from under me on Palm on weds starting the short on Monday. Nice 30% haul. BGX I shorted from Monday until Thursday to cover at noon. Another 30% haul.
Only during dot.com have I done so well. On a proper market cycle it takes months to get a return of 10%, right now betting against pays in days. - hugolp, on 01/17/2009, -0/+1Well, that the FED was providing cheap money to the banks to loan also had something to do. People and bank is going to borrow money if its cheap enough. The Fed provided the liquidity to make borrowing very cheap for so long that everybody though it was stupid no taking it. The rest its history.
- markvschwartz, on 01/19/2009, -0/+1BOA is one of the evilest, most vile companies in America. You should see how they treat homeowners facing foreclosure (I assist distressed homeowners with short sales). They treat people like crap and refuse to do loan modications or short sales. Yet, their liar CEO tells Congress how BOA is doing every thing it can to help homeowners.
Now that the BOA bigwigs have their multi-million dollar year-end bonuses and fat, bulging wallets from our socialist government handouts, the BOA fat boys can sit back and enjoy watching the pain they are inflicting on Americans.
Come on BOA, at least remove the "America" from your name - you are disgracing a good name! - siszam, on 01/17/2009, -1/+2Social Security and Medicare fall under providing for the general welfare of the people which IS in the Constitution. Read it again and try to see it as something for and by the people and not a way promote your greed.
- DarkShroud, on 01/18/2009, -0/+1Never mind that Bush tried and failed to stop the 2 major GSEs Fanny & Freddie. There are nice videos of Barney Frank speaking out against Bush on this matter as well as the rest of the democrat board. There were enough votes between all the democrats and dirty republicans who were all receiving money. On this item Bush is one of the few not responsible.
FYI, Obama was the 2nd highest paid recipient of cash from these companies. - JshMRsn, on 01/18/2009, -0/+1That is very well crafted comment, it could go places.
- schnikies79, on 01/19/2009, -0/+1This thread is long dead but i'm going to add this anyway.
The Constitution says "promote the general welfare", it never says provide. There is a difference. - blt7765, on 01/21/2009, -0/+0And the sad thing is, with the latest bailout, the employees are also taxpayers, so they are essentially paying part of their taxes to help support the elimination of their own jobs. It's really messed up.
- AlbinoRaven, on 01/17/2009, -2/+2CrazyZ is right, the rest is militia driven.
Never understood why people throw themselves in front of DoD when it's been obviously a huge pool of pork for 50 years. I realise it builds strong leaders but it doesn't have to be at the cost it currently requires.
I like to think starship troopers is a good model; a place to sleep and three squares should be enough. The alternative being no citizenship and lack of rights. Service to their country should be required. Otherwise, no babies, no running a business, no voting, no land ownership. If the US wants to model itself as a republic like Rome, I understand service was a requirement to extend one's rights.
Otherwise the military as it stands isn't much above welfare with weapons. Anyone ever notice the truckloads of Majors and Captains that have never fired a rifle beyond basic training? Sad, personally I'd stick them all out in front, they seem to outnumber grunts five to one and serve the same effectiveness as a doorstop in that rarest of gems: Military leadership - rickr0ck, on 01/17/2009, -8/+4This bank bailout is a waste of OUR money. Let them fail. Life will go on, I hate this bank anyway, you must have an account to use the drive thru at Bank of America. If you refuse to leave the drive up window (as I did) they call the cops (as they indeed did) Screw you bank of America in Ludlow Ma.!!!
- syntaxgs, on 01/17/2009, -5/+2Im glad american govt can bailout these big companys, I mean people NEED loans for certain htings that are too expenisive
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