Rick Scott wins

[Koa]

Did you not read my explanation at all? They were in absolutely no danger of bankruptcy. they did not in any way shape or form need that money for survival. Please show me something stating otherwise if you're so sure.

So Alex Sink was the state president for NationsBank, now Bank of America? Not quite CEO of the whole company, but damn if that ain't one notch below. I see she had that part removed from her Wikipedia page, but it is on her husband's (Bill McBride) page. He ran against Jeb for governor in 2002 and lost.

I disagree about BOA not being in trouble. Merrill Lynch and Country Wide were empty puffballs. CountryWide was giving out no doc loans left and right and when the real estate market collapsed, BOA was left with nothing to back the notes.

I cannot stand Bank of America based on their way of doing business. It was the same when they were Nation'sBank. Piss poor customer service and an outright crappy attitude to all customers. Learning that Sink was running the show of Bank of America for an entire state, I am going to be doing a lot more research on both her and Scott, who I already determined is a shyster.

Looks like Sink is against drilling offshore of Florida, but she is also for Obama-care. (wasn't it Hillary-care before Obama beat her?) Back in Jan 2009, she also announced that she would not run for governor. Now she is running. Starts to sound like a true politician.

Win a little/ lose a little. I'm less excited about her now.

Just saw this on her Wikipedia page. She is a descendant of the famous Siamese twins, Chang and Eng Bunker.

If she will put that on Wikipedia, surely she has balls enough to state that she ran NationsBank. She doesn't even mention NationsBank (Bank of America.)

Back to the Siamese twins:
"Determined to start living a normal life as much as possible, the brothers settled on a plantation, bought slaves, and adopted the name "Bunker". On April 13, 1843, they married two sisters: Chang to Adelaide Yates and Eng to Sarah Anne Yates. Interestingly, this made their respective children double first cousins. In addition, because Chang and Eng were identical twins, their children were genetically equivalent to half-siblings, thus making them genetically related in the same manner as half-siblings who are also first cousins.

Their Traphill home is where they shared a bed built for four. Chang and his wife had 10 children; Eng and his wife had 11. In time, the wives squabbled[4] and eventually two separate households were set up just west of Mount Airy, North Carolina in the community of White Plains ? the twins would alternate spending three days at each home."

Can you imagine having sex with your wife, with your brother so intimately close?

 

[30ashopper]

Ok so by your definition a failed enterprise is any entity that accepts money from the government.

My definition of a failed bank is any institution that, without government funds and asset guarantees, fails basic means tests for capital requirements.

BofA really is the poster child for government collusion and corporate greed. They bought Country Wide and Merrill Lynch at the behest of the feds. In return for that 'favor' we guaranteed billions in worthless assets they purchased in the deals. Then we had to turn around and bail them out some more because the losses in both those institutions plus their own portfolio were far larger than anticipated. In the end BofA becomes the largest banking, investment, and lending institution in history by dumping worthless assets on the american taxpayer and by buying up new government subsidized assets they scraped up at bargain prices. Ken Lewis was instrumental in all of this.

Heck, Lewis should probably get an award. The guy is one slick mofo of ceo. He ripped us all off and walked away from the scene scott free and even more filthy stinking rich than he was before.

Why are you defending BofA by the way?

 

[beachFool]

They bought Country Wide and Merrill Lynch at the behest of the feds. In return for that 'favor' we guaranteed billions in worthless assets they purchased in the deals.
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Calling BS shopper.

BofA bought Countrywide on their own in January of 2008.

The Bush administration bailed them out when the Countywide loan portfolio went south.

Merrill Lynch probably had more to do with BoA heading south at least according to the SEC.

Legal Briefing: Bank of America Shareholder Lawsuit Over Merrill Lynch Merger Moves Forward - DailyFinance

Bank of america shareholders sued Merrill Lynch.

 

[beachFool]

I'd consider Citi a failed bank as well. I don't remember Wells taking any money, .

Wells Fargo is $25 Billion Richer, Thanks to TARP ? HousingWire

$25,000,000,000

or enough money to buy 25,000 houses that cost 1M

 

[LuciferSam]

My definition of a failed bank is any institution that, without government funds and asset guarantees, fails basic means tests for capital requirements.

BofA really is the poster child for government collusion and corporate greed. They bought Country Wide and Merrill Lynch at the behest of the feds. In return for that 'favor' we guaranteed billions in worthless assets they purchased in the deals. Then we had to turn around and bail them out some more because the losses in both those institutions plus their own portfolio were far larger than anticipated. In the end BofA becomes the largest banking, investment, and lending institution in history by dumping worthless assets on the american taxpayer and by buying up new government subsidized assets they scraped up at bargain prices. Ken Lewis was instrumental in all of this.

Heck, Lewis should probably get an award. The guy is one slick mofo of ceo. He ripped us all off and walked away from the scene scott free and even more filthy stinking rich than he was before.

Why are you defending BofA by the way?

I just don't care for inaccurate statements when it comes to anything. I had accounts with BofA back in 2008. I was never worried about them going under, not just because of FDIC. I did my research, I looked at their balance sheet. They are effin' big. As a rule when it comes to banks, bigger is better and safer. They were never in danger of going under. I believe they make way more off credit cards and fees than loans. TARP money was a gift horse. It ensured that they could buy Merrill Lynch.

 

[LuciferSam]

Wells Fargo is $25 Billion Richer, Thanks to TARP ? HousingWire

$25,000,000,000

or enough money to buy 25,000 houses that cost 1M

How could 30A have missed that one? I know who not to turn to now.

 

[30ashopper]

They bought Country Wide and Merrill Lynch at the behest of the feds. In return for that 'favor' we guaranteed billions in worthless assets they purchased in the deals.
---------------------------------------------------------------------------------------------

Calling BS shopper.

BofA bought Countrywide on their own in January of 2008.

The Bush administration bailed them out when the Countywide loan portfolio went south.

Merrill Lynch probably had more to do with BoA heading south at least according to the SEC.

Legal Briefing: Bank of America Shareholder Lawsuit Over Merrill Lynch Merger Moves Forward - DailyFinance

Bank of america shareholders sued Merrill Lynch.

The FED was heavily involved in that purchase. They had to approve the deal, and did, despite opposition by stock holders. They knew CW was going down, and BofA was one of the few banks that could handle the losses they thought CW would take. In the end, everybody miscalculated. That's when BofA started to unravel, so the FEDs came in and propped them up.

BofA was the "dumping ground of last resort" for the FED. In doing so they've created a monster. We either nationalized or vaporized a lot of the losses.

Remember the FED buying up 1.25 trillion in MBS recently? They manufactured that money out of nothing. When the value dissapears, that excess cash will be running through the streets of the economy. Nobody knows who sold to the FED, but you can bet BofA was at the top of the list of sellers. (edit - oh, and take a guess as to what they might be buying with all that excess income.. treasuries. The circle of collusion is complete.)

 

[30ashopper]

How could 30A have missed that one? I know who not to turn to now.

I'd consider Citi a failed bank as well. I don't remember Wells taking any money, or if they did, maybe they took it as smoke screen coverage for the others.