Break Up Bank of America Before it Breaks Us [View all]

[marmar]

from BanksterUSA:



Break Up Bank of America Before it Breaks Us
Submitted by Mary Bottari on December 21, 2011 - 09:47


On Monday, Bank of America (BofA) stocks briefly traded for under $5. Yes, you could buy a share of BofA for less than the noxious debit card fee they tried to force down your throat.

BofA is massive, with assets equivalent to 15 percent of U.S. GDP. So why is it trading for the price of a latte?

Because Wall Street’s dirty little secret is that BofA is a zombie bank. Now the reek is getting too strong to ignore.

The Most Dangerous Bank In America?

In 2008-2009, BofA publicly took $45 billion in TARP bailout funds and secretly took another $91 billion in emergency Federal Reserve loans. According to Bloomberg News, it made $1.5 billion in profits off of those loans. Yet, several analysts predict that BofA is woefully short of capital reserves. .............(more)

The complete piece is at: http://www.banksterusa.org/content/break-bank-america-it-breaks-us