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Old 02-03-2009, 07:44 AM
 
Location: Denver 'burbs
24,012 posts, read 28,483,364 times
Reputation: 41122

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ABC News: Bailed Out Bank of America Sponsors Super Bowl Fun Fest

I think if I had an account with BOA, I'd be closing it right about now.
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Old 02-03-2009, 08:09 AM
 
339 posts, read 1,519,144 times
Reputation: 240
Then putting your money where? What are the better alternatives?
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Old 02-03-2009, 08:12 AM
 
Location: Raleigh, NC
9,059 posts, read 12,980,816 times
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Quote:
Originally Posted by jaindow View Post
Then putting your money where? What are the better alternatives?
Singapore bank, Thai bank, Swiss bank...

Keep a minimal amount of money in a credit union for expenses.
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Old 02-03-2009, 08:19 AM
 
Location: Denver 'burbs
24,012 posts, read 28,483,364 times
Reputation: 41122
My local bank is not having these issues....
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Old 02-03-2009, 11:13 AM
 
76 posts, read 236,057 times
Reputation: 91
Business as usual.

People shouldn't be blaming the banks for their idiotic spending since it's apparent that they failed to begin with and goverment just allowed them to continue down the same flawed business logic. People should be furious at the Senators who drafted the bailout plan with no conditions on how to use the money or consequences for what the government felt to be poor use of the money given to them.
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Old 02-03-2009, 01:31 PM
 
13,811 posts, read 27,474,527 times
Reputation: 14250
Something tells me they probably spent this money a long time ago. Also do you expect all banks to simply stop all marketing? What else should be cut? Should they close all their brick and mortar stores? Shut down their online banking? Cut healthcare? Stop paying employees? What is "acceptable" to you?
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Old 02-03-2009, 03:06 PM
 
3,650 posts, read 9,217,975 times
Reputation: 2787
Yeah that's what we're saying.

This was a hideously pointless and frivolous exercise in money wasted. duh.
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Old 02-03-2009, 03:24 PM
 
3,393 posts, read 4,014,836 times
Reputation: 9310
The bailout money to lenders isn't really a 'giveaway'. They are required to pay it back with interest.

With that in mind, how would you like to get a home equity loan and then have the bank come into your house and say, "Gosh, a big screen TV?? You took a $20,000 loan from us. Did you spend part of the money on this?? And what's with the new rug? Wasn't the old one still good?"

If the banks pledge to pay back the money, it shouldn't be our business how they spend it.
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Old 02-03-2009, 05:04 PM
 
Location: Denver 'burbs
24,012 posts, read 28,483,364 times
Reputation: 41122
Quote:
Originally Posted by Book Lover 21 View Post
The bailout money to lenders isn't really a 'giveaway'. They are required to pay it back with interest.

With that in mind, how would you like to get a home equity loan and then have the bank come into your house and say, "Gosh, a big screen TV?? You took a $20,000 loan from us. Did you spend part of the money on this?? And what's with the new rug? Wasn't the old one still good?"

If the banks pledge to pay back the money, it shouldn't be our business how they spend it.

Well first off, a home equity loan would be a loan against the money I have already put down or paid back sooo...not the same thing. Also, if I had a history of bad financial decisions I would have a poor credit rating and wouldn't be able to get the loan anyway.....
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Old 02-04-2009, 08:43 AM
 
3,650 posts, read 9,217,975 times
Reputation: 2787
Quote:
Originally Posted by Book Lover 21 View Post
If the banks pledge to pay back the money, it shouldn't be our business how they spend it.
"Pledging" to pay it back and doing so are 2 diff things and since we gave it to them for a very specific purpose (saving their butts), yeah, it absolutely should be our business. Although really I fault the gov't for not putting some kind of restrictions on this.
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