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Is Obama killing 30,000 more jobs with his health care bill or is it because Obama's government keep beating up the banks, while Dodd/Frank are the biggest cause of the bank/mortgage issues.
Already we the customers are payign the price with increase of fees, less service and having to do more and more online to avoid costs.
The other day I wanted to deposit a check into my daughters account and was told that she had to pay fees if I would deposit it inside the bank. If I did it at the ATM it was for free...nobody was in line in front of me or behind me so that wasn't the reason...but sooner than later this employee will be losing her job and not replaced...we had that happen in Europe over 10 years ago and we as Europeans have witnessed and lived with a socialist killing job government....
We need change fast to have hope for the future...! Get rid of Obama and all his associations and get a Rep. in place...any Rep. is better than dealing with a job killing Obama!
No. I think BoA is badly exposed to toxic assets and it's becoming clearer. They were one of the bailout recipients, after all. I don't mind it of BoA goes under, that's one less globalist CFR/Bilderberger backed bank sent to the graveyard.
BofA is a horrible company. It was their crappy business practices that is causing their implosion.
Makes me wonder how bad they exposed themselves to the subprime crisis. But not to worry. They are a stockholder of the Federal Reserve. I'm sure they'll get another bailout sometime soon to cover their overextended fractional reserve lending
Poor management under Moynihan (and Lewis before) is what ails BOA. The Countrywide buy was a major arterial bleed that has been patched with a band-aid. Additionally, hiring an additional 200,000 employees during the BOA/Merrill Lynch merger in an effort to grab major market share was a bet that didn't pay-off.
If the Obama jobs bill passes BOA can take advantage of these firings by then hiring more people for just under $8/hr and get the tax breaks: for that you could blame Obama but Obamacare has absolutely nothing to do with what ails BOA.
Buffett is banking (pun intended) that BOA/Merrill is not "too big to fail". Time will tell if Obama bails out his most high profile backer or if Buffett gets thrown under the bus too. The market has been ignoring the Buffett investment and sale of 50% of its China Construction Bank investment in regard to capital and looks at it more like debt.
Last edited by lifelongMOgal; 09-12-2011 at 11:24 AM..
Is Obama killing 30,000 more jobs with his health care bill or is it because Obama's government keep beating up the banks, while Dodd/Frank are the biggest cause of the bank/mortgage issues.
Already we the customers are payign the price with increase of fees, less service and having to do more and more online to avoid costs.
The other day I wanted to deposit a check into my daughters account and was told that she had to pay fees if I would deposit it inside the bank. If I did it at the ATM it was for free...nobody was in line in front of me or behind me so that wasn't the reason...but sooner than later this employee will be losing her job and not replaced...we had that happen in Europe over 10 years ago and we as Europeans have witnessed and lived with a socialist killing job government....
We need change fast to have hope for the future...! Get rid of Obama and all his associations and get a Rep. in place...any Rep. is better than dealing with a job killing Obama!
BofA's issues started long before obama. Look to the "leadership" and greed of those sitting in the tower here in Charlotte and you will see where the blame lies.
BofA's issues started long before obama. Look to the "leadership" and greed of those sitting in the tower here in Charlotte and you will see where the blame lies.
^^This.
Of course, BofA will try to paint their ineptitude as the fault of others and outside their control, but, they've no one to blame for their greed but themselves. Their execs will sail off into the sunset on their golden parachutes and the rank-and-file will pay the price like they always do.
Very sad.
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