So BOA took in, oh, let's just say a hundred billion or two to "even out" their balance

[WCGreen]

sheet using all the government aid offered after they helped take the economy down in 2008.

Just heard, while watching the Rachel Maddow Show, a commercial from BOA with Kieffer Sutherland soothingly reminding us that BOA granted $18 billion in loans to small business owners last year.

$18 Billion is all they could muster up to loan out to customers?

Remember, these customers probably went through the SBA system which puts the government as basically the cosigner in these loans.

Oh the commercial was gorgeous, capturing the can do gumption that is so idealized in the mythology of this country.

What the fuck, is all I have to say....

[Taverner]

1. I WANT THE BofA WIKILEAKS!!!

[xchrom]

2. Those are deleted by the guy who held them in a fit of pique. Nt

[The Backlash Cometh]

4. Do you really believe they're gone?

Or that someone is getting effectively pressured?

[xchrom]

6. who knows?

there seems also to be something of a 'relationship' involved.

that's where i begin to get cross eyed.

[Warpy]

3. They made two epically bad business decisions

First, they bought out Countrywide, boasted it was for pennies on the dollar and after they got a good look at their books, realized what a pig in a poke in terms of debt it was. Second, they bought out Merrill Lynch, and instead of cutting Merrill's bad management loose and absorbing the rank and file into their own investment bank, Banc of America, they kept the lousy management and cut their own people loose or encouraged them to leave. Merrill also came burdened with massive debt and few assets.

It's no wonder they need rescue of some sort now and why they've been resorting to shady rainmakers in the foreclosure business. They've been desperate for a long time.

[Supersedeas]

5. yeah, but those glossy BOA televisions ads sure are convincing