charlotte and bank of america feeling the tyrany of socialism (loan, homes)

[Constitutionalist]

who else is mad as hell about this hope and change crap that we are getting here, i call it socialism and tyrany. folks as much as people love to hate bank of america look what is happening to them. they cant find a new ceo because of government dictation they want to re pay the 45 billion in tarp, the government wont let them, because they want to run boa. either boa is going to be broken up by the feds or it may be forced to leave charlotte for ny. imagine what that might mean for charlotte, even if you hate boa just think of what this could mean for charlotte

[mike7586]

It won't mean anything other than the CEO being based in NY and Charlotte can no longer call itself "the 2nd largest banking center". Big whoop. And it makes no business sense to layoff or move 10,000+ employees from Charlotte to NY. I think you need to chill out...

[baybook]

Originally Posted by Constitutionalist

who else is mad as hell about this hope and change crap that we are getting here, i call it socialism and tyrany. folks as much as people love to hate bank of america look what is happening to them. they cant find a new ceo because of government dictation they want to re pay the 45 billion in tarp, the government wont let them, because they want to run boa. either boa is going to be broken up by the feds or it may be forced to leave charlotte for ny. imagine what that might mean for charlotte, even if you hate boa just think of what this could mean for charlotte

Given the state of many banks 14 months ago, I think BOA would rather have taken the TARP funds than go under.

Quite interesting how I'd never heard anyone call Bush a socialist and his administration is responsible for TARP funds. Now all I here is how the new administration wants to take over the banking sector. Socialism and Tryanny. OK player.

[Constitutionalist]

Originally Posted by mike7586

It won't mean anything other than the CEO being based in NY and Charlotte can no longer call itself "the 2nd largest banking center". Big whoop. And it makes no business sense to layoff or move 10,000+ employees from Charlotte to NY. I think you need to chill out...

people like you dont get it. i mean do you agree that you want your government taking over the free market, listen i dont need to just chill out maybe i need to get a hell of a lot more irate I DONT LIKE THE WAY THE WAY THAT CAPITALISM IS UNDER ATTACK AND I AM MAD AS HELL ABOUT IT

[pink caddy]

Only because you wrote BOA and Charlotte in the same sentence will this thread survive this forum. Don't you think it's better suited for the political sub-forum when blood boils at 325 degrees?

The political forum is like cage fighting. Fifteen minutes before your bedtime and I bet you don't sleep all nite.

[lumbollo]

Originally Posted by Constitutionalist

people like you dont get it. i mean do you agree that you want your government taking over the free market, listen i dont need to just chill out maybe i need to get a hell of a lot more irate I DONT LIKE THE WAY THE WAY THAT CAPITALISM IS UNDER ATTACK AND I AM MAD AS HELL ABOUT IT

Mr Constitutionalist, if you read the Constitution, then you will note the Federal Reserve System, which BofA, a full fledged member that couldn't exist without it, isn't supported by the Constitution. Federal Reserve Notes are not lawful money and furthermore Central Banking exist solely for one reason, to intervene in the free market. They do this by manipulating the value of money and hence goods and services. It isn't capitalism. Go read up on it.

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For those of you who say that we are socialist now, keep in mind that if we were running a purely capitalist system, BofA would have never existed in the first place. However forgetting that inconvenient fact, in a capitalist system, BofA would have been liquidated last year and we would not even be talking about it. They are the one of the biggest recipients of Social Welfare in America's history and it is a myth they can pay back TARP. They can't. In fact they are still receiving 10s of billions of taxpayer funds being funneled through AIG.

BTW, I am not advocating for the socialist policies that have allowed BofA to stay in business. I think they should have been allowed to fail.

[thestem]

Originally Posted by lumbollo

Mr Constitutionalist, if you read the Constitution, then you will note the Federal Reserve System, which BofA, a full fledged member that couldn't exist without it, isn't supported by the Constitution. Federal Reserve Notes are not lawful money and furthermore Central Banking exist solely for one reason, to intervene in the free market. They do this by manipulating the value of money and hence goods and services. It isn't capitalism. Go read up on it.

--------------------

For those of you who say that we are socialist now, keep in mind that if we were running a purely capitalist system, BofA would have never existed in the first place. However forgetting that inconvenient fact, in a capitalist system, BofA would have been liquidated last year and we would not even be talking about it. They are the one of the biggest recipients of Social Welfare in America's history and it is a myth they can pay back TARP. They can't. In fact they are still receiving 10s of billions of taxpayer funds being funneled through AIG.

BTW, I am not advocating for the socialist policies that have allowed BofA to stay in business. I think they should have been allowed to fail.

Agreed - if you are TOO BIG to fail, you're just too darn big!

[Nativechief]

BOA brought on their own problems. Socialism has nothing to do with it , corporate greed does. You essay? lol

[clavoski]

Originally Posted by Constitutionalist

who else is mad as hell about this hope and change crap that we are getting here, i call it socialism and tyrany. folks as much as people love to hate bank of america look what is happening to them. they cant find a new ceo because of government dictation they want to re pay the 45 billion in tarp, the government wont let them, because they want to run boa. either boa is going to be broken up by the feds or it may be forced to leave charlotte for ny. imagine what that might mean for charlotte, even if you hate boa just think of what this could mean for charlotte

I think a few commas here and there could help the ditto heads intheir forlorn struggle for those they have no business defending. Knowing where commas belong also gives you a sense of your place in the biological and social scale. They have no punctuation in AM radio, what would you know

[Villanova98]

Hopefully my grammar is sufficent as I have lots to do today other than craft this paragraph perfectly on a cellphone......I sort of agree with the original post in the point it's trying to make. Based upon a wide spread disatisfication with G.W.Bush, the country allowed itself to open up to a complete pendulum swing of Conservative principles (I'll refrain from the debate that "W" was anything but a fiscal conservative). Fact of the matter, the country voted on the principle of "let's vote for the exact opposite of the norm". The country voted for George Costanza. So now we've allowed for the government to be Controlled by individuals who's ideology is in favor of Big Government. That translates to more Government control, entitlement and wealth distribution at the sacrific of individual freedom (something needs to give). You won't hear that in any political speech, but it will be the underlying message.

As for BOA, it was operating successfully until the Merrill Lynch debacle. What should trouble people the most is that the Government effectively forced BOA to proceed with the deal to prevent another Lehmans Brothers type collapse. While BOA with a guarantee of TARP funds help prevent a complete global economic meltdown, they're now being illustrated as yet another "greedy corporation" with a "greedy CEO". I'd be more upset by the Government forced intervention, Yhreats by the Federal Reserve to oust the Boardif they didn't "play ball" and ultimately CEO forced removal. Greedy CEO's didn't create this crisis. Government forcing banks to lower home loan requirements caused this. People with no money down were allowed to buy excessive homes they could/would never afford in mass. However, no politician in history has ever taken ownership for a colossal mistake. do you ever wonder why we can have Congressional hearings on steroids in baseball but not the home loan debacle? The govenrment found, manufactured, politicized and spun they're scapegoat in the form of the banking industry. What's worse is most people will believe anything they read.

Charlotte, hopefully will survive on the backs of it's Power market (Duke, Shaw, Areva, Fluor, etc). At least until cap-and-trade restricts that industry as well.