Bank of America Going Bankrupt?
Feb 11, 2010
From an attorney . . .
New York state officials Thursday sued Bank of America and its former top executives alleging fraud and deception to obtain billions in taxpayer bailout funds to acquire brokerage Merrill Lynch.
Bank of America is expected to go into bankruptcy this year. The nation's 3rd largest bank has been earmarked as a storehouse for toxic waste to be flushed down the bankruptcy toilet.
"And I'm proud to be an American where at least I know I'm fleeced."
After all, "We make money the old fashioned way. We print it. Hand roll it into security bond instruments. Caringly rate it triple A, when it is triple B. Sell it into the open market. We then short it, betting against our own clients, that the bonds will fail. Next we use TARP money to buy up the failed institutions, pick and chose the good stuff from the muck. Then we pass the losses on to the tax-payer to be flushed down the bankruptcy toilet. Yes indeedy, with all such work, we earn every penny."
Dr. Stephen Jones