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76 Comments
- absurdist, on 01/02/2009, -2/+34This is just ***** great. We have businesses that are "too big to fail", so what to we do? Make them ***** BIGGER. When what we need in office is someone with the trust-busting fervor of a Teddy Roosevelt, so we can bring these behemoths down to a manageable size again. Competition is a GOOD thing.
- LeeMaple, on 01/02/2009, -0/+26Bankticons, form MEGABANK!
- heystoopid, on 01/01/2009, -2/+16Time to pink slip the top five hundred idiots and morons for bankrupting Merrill Lynch is long over due along with a five hundred million dollar fine for shoddy corrupt external auditing as well .
- havokzero, on 01/02/2009, -4/+17Here's to hoping the recession kills the age of credit addiction.
- theutopian, on 01/02/2009, -0/+12***** the banks. They don't deserve us anymore.
Join a local credit union. Return to local banking. - Jlaugh, on 01/02/2009, -1/+13I think you should look into the history and politics of the banking fraternity. They do things like implode economies on purpose so they can consolidate.
- ProfessorRiffs, on 01/02/2009, -0/+9First we must get back to our home planet of Creditron.
- jedmed, on 01/02/2009, -0/+9The World Economy can be translated to "a fluid relationship between government and corporate entities such that the traditional boundaries between these entities have become practically indistinguishable: They both steal your money with impunity."
- inactive, on 01/02/2009, -1/+9I have an idea for an industry that has proven that bigger is not necessarily better: consolidation
- cubicledrone, on 01/02/2009, -1/+9More monopolist *****. What allows these institutions to survive is underpaying their employees, underserving their customers, ***** over their vendors, ***** all over their neighbors and pocketing huge subsidies at the local, state and national level year after year. Then we can talk about the taxes they don't pay.
"Cut internal costs by reducing redundancies" is corporate-speak for "hoard capital." These businesses produce nothing except layoffs and Powerpoint. Upper management doesn't want there to be a middle class, because middle class people complain when they are underpaid, overworked, taken advantage of and then fired. - Olfster, on 01/02/2009, -2/+10Well said. We need more money in the hands of local community banks and not the "too big to fail" international banks that will just repeat their past mistakes.
- tgc1, on 01/02/2009, -0/+7Folks this happened in the 1930's too. Consolidation of power. I agree, this should NOT be allowed to happen. Where is the government oversight protecting Americans from this kind of *****? If a company is too big to fail, then it needs to be split up. Before you know it, this new entity will be coming to the government for more god damned money.
I'm sorry, but if Americans can't see that their entire government has been bought by these people then you must all be blind. - DBLOCK916, on 01/02/2009, -1/+8This seems like a monopoly to me. It seems scary that Bank of America is essentially the bank of the Federal Reserve and they're taking over other banks. We'll never be out of debt if we continue the federal Reserve and especially now.
I just started banking with a credit union after banking with Wells Fargo for years and it's definitely the way to go. Better borrowing rates, free atms, and I'm part owner of the credit union. - inactive, on 01/02/2009, -2/+8You can take that to the bank!
- punkcat, on 01/02/2009, -0/+6when we change the terms of their loan the autobots will be vanquished forever!
- DaDrake, on 01/02/2009, -6/+12Actually this is a good thing financially --- the larger banks (who did less risky lending) are now in a possion in acquiring the failed banks. In the end, the best business model wins.
The bad thing is that the USA banking system may soon look like other European banking system. When banks get so large, governments tend to make them pseudo-private since they are "too big to fail". In other words... we will repeat Fannie Fae and Freddie Mae debacle. The entire idea of the government having more influence over the banking system where politics will encourage mandates that aren't financial savvy is... well..... disturbing. - linespin, on 01/02/2009, -0/+6BOA will be the OCP of tomorrow... give it 10-20 years (hint: robocop)
- gatparker1, on 01/02/2009, -1/+7Government doesn't control banking. Banking controls government.
Government is used to eliminate competition. - cubicledrone, on 01/02/2009, -0/+6"In the end, the best business model wins."
No. In the end, the most hoarded capital wins. The people of this country, on the other hand, lose, starting with their jobs. - JasonQG, on 01/02/2009, -0/+6If the majority of us believe you, won't you by definition be wrong?
- theutopian, on 01/02/2009, -0/+6Join a credit union!
- ScottMitchell, on 01/02/2009, -0/+6That would be nice, but it took 25+ years to build up the credit mania to where it is today. I don't think we'll see an end to credit addiction, just an abatement.
- Diggity75, on 01/02/2009, -0/+6How about just "THE Bank of America"?
- mbraynard, on 01/02/2009, -2/+7You forgot that Dick Cheney bombed the trade towers in a 'false flag' attack.
- roebeet, on 01/02/2009, -0/+4I'd buy that for a dollar!
- LenBaird, on 01/02/2009, -0/+4This is how they are spending the bailout money.
- Phillycat81, on 01/02/2009, -0/+4The market is not highlander. There doesn't have to be only 1.
- JammoBlammo, on 01/02/2009, -3/+7I don't think anyone who buried you read your whole comment. Awesome.
- cle2105, on 01/02/2009, -1/+4Merril and Wachovia wouldn't be able to survive on their own and their assets would be chopped up and absorbed by stronger banks either way. There are still plenty of large banks in the country (and rest of the world) so competition is still alive and well.
- inactive, on 01/02/2009, -0/+3Call it Super Bank of America now.
- inactive, on 01/02/2009, -0/+3Glad to see the banks are putting the bailout money to work...
- MrFunStuff, on 01/02/2009, -1/+4***** more consolidation of power!
- linagee, on 01/03/2009, -0/+2I'd bet a dollar that it will go the other way instead.
- nextekcarl, on 01/02/2009, -0/+2I know what you meant (it took me a second to understand you meant they should each consolidate their holdings), but that actually is what they are doing. The entire market is consolidating, rather than just individual companies. But that means they are getting even bigger, and as you said, bigger isn't always better.
- ProfessorRiffs, on 01/02/2009, -0/+2But only to one single bank!
- nextekcarl, on 01/03/2009, -0/+2You need to watch more CSPAN then, as the "too big to fail" was brought up over and over. Perhaps not by the banks themselves, but by EVERYONE else. And that is the only reason anyone can give that we shouldn't allow them to fail. Well, that's what all the arguments come down to ultimately anyways.
- DirtyCash, on 01/03/2009, -0/+2he forgot sarcasm tag
- etx313, on 01/02/2009, -1/+3ni how mah mother *****
- ProfessorRiffs, on 01/02/2009, -0/+2What.
- ASSASSYN360, on 01/02/2009, -0/+2Anybody want to play big bank takes little bank?
- seanof, on 08/01/2009, -0/+1And reducing competition.
- ProfessorRiffs, on 01/02/2009, -0/+1I'll walk in with a grenade and be like "BANKERS, LEAVE".
- Arthere, on 03/12/2009, -0/+1another story about this? http://www.creditcardassociate.com/bank-of-america ...
- BESTenemy, on 01/03/2009, -0/+1Through cutting off the head (the FED) certainly wouldn't hurt.
- inactive, on 01/02/2009, -1/+2they do this because they will be too big to fail. the govt will bail them out when the next phase of crisis hit . soon.
- asplodzor, on 01/02/2009, -0/+1I un-breaked your link for you: http://mast-economy.blogspot.com/2008/12/rememberi ...
- inactive, on 01/02/2009, -1/+2Yeah Dane Cook sucks, we get it. How many comments about this guy are you planning on making?
- inactive, on 01/02/2009, -12/+13OMG the global bankers bilderberg illuminati world government are responsible for the crumbling economy. Hitler created the Federal Reserve to stifle the gold standard in America. The jews are behind 9/11 inside job. Police state. FEMA concentration camps. Ron Paul is being silenced by the media. Smoking marijuana cures cancer and AIDS. RFID can read our mind. Chemtrails caused global warming. Wake up! Google it.
/Did I miss something? I'm counting on conspiracy nuts to fill in the blank. - internetwinner, on 01/02/2009, -1/+2Did you not read the article or are you ignorant? Both Merrill and Wachovia were failing as corporations. Are you, sir, going to be the one to step up and buy them thus saving hundreds of thousands of American jobs? If not, shut the hell up.
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