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Old 02-06-2009, 10:54 AM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,543,231 times
Reputation: 6378

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First I've heard of it... but it's all over Google news. Something about "trading at historic lows" and "Ate too much and gotta barf."

This really sucks. This is the bank I use for bill paying. HAHAHAH!!! on me.

Bloomberg.com: Worldwide

Bank of America tumbles on nationalization worries - Yahoo! Finance (http://finance.yahoo.com/news/Bank-of-America-tumbles-on-rb-14256843.html - broken link)
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Old 02-06-2009, 12:16 PM
 
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Good time to buy.
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Old 02-06-2009, 12:30 PM
 
Location: Alaska & Florida
1,629 posts, read 5,023,278 times
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I'd rather we nationalize it instead of giving them billions more in relief.
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Old 02-06-2009, 12:32 PM
 
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I guess they would not need to change their name.
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Old 02-06-2009, 12:38 PM
 
Location: down south
514 posts, read 1,481,532 times
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Quote:
Originally Posted by 70Ford View Post
First I've heard of it... but it's all over Google news. Something about "trading at historic lows" and "Ate too much and gotta barf."

This really sucks. This is the bank I use for bill paying. HAHAHAH!!! on me.

Bloomberg.com: Worldwide

Bank of America tumbles on nationalization worries - Yahoo! Finance (http://finance.yahoo.com/news/Bank-of-America-tumbles-on-rb-14256843.html - broken link)
why do you care? Nationalized or not, as long as it still provides the same service to you and you can still use it to do whatever you were doing before. There will be no difference to you one way or another. Unless you are such an ideologue that you HAVE TO do the business on a private bank. If that's the case, then you have bigger problem to worry about than whether BoA is nationalized or not.
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Old 02-06-2009, 01:45 PM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,543,231 times
Reputation: 6378
I care for the opposite reason that you don't care. Think about why you don't care, then think opposite of that. Some might call that "Playing devil's advocate."

I see you have no problem with the government handling your money. That's cool. How about your health care? And your airlines. And your telephones. And your cable bill. And...and....and....

Nationalism sucks.

I care because it's been done before and it doesn't work. I'm sorry you don't care.

France did it in the 1980s, but those efforts failed miserably, prompting the government to take those banks private again. Some east Asian countries nationalized banks during that region's financial crisis in the late 1990s, but those banks soon devolved into inefficient state-run institutions.

Bank nationalizations: Don't bet on it - Jan. 22, 2009
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Old 02-06-2009, 01:48 PM
 
48,508 posts, read 88,768,440 times
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That's all we need another goverment system like the postal system to subsidise very year.
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Old 02-06-2009, 02:58 PM
 
13,724 posts, read 16,827,746 times
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I have all my accounts at BOA, business and personal, checking and savings, bill pay, etc. I've wondered if it's time to switch to my credit union. I have just always found BOA convenient because I can pay people by direct deposit and my business and personal stuff is all in one place. Plus all my kids have BOA accounts and I can transfer money from my account to theirs and it's there immediately. More complicated to do all that stuff with a smaller bank or a credit union.
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Old 02-06-2009, 05:33 PM
 
Location: WA
5,538 posts, read 22,658,871 times
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No, the CEO says they need no additional funds and have a goal to pay the government back in three years time. Says he has heard no talk of nationalizing.

BOA is a very big company (one of the largest in the world) that took a chance on buying Nationwide at a bad time and then got pushed into buying ML. They would have few major issues if it was not for those acquistions.
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Old 02-06-2009, 11:03 PM
 
1,020 posts, read 2,343,377 times
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Quote:
BOA is a very big company (one of the largest in the world) that took a chance on buying Nationwide at a bad time and then got pushed into buying ML. They would have few major issues if it was not for those acquistions.
Agreed. From what I understand, they didn't have much participation in this subprime lending/securities purchases scheme that killed so many other banks.
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