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02-06-2009, 10:54 AM
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Location: Georgia, on the Florida line, right above Tallahassee
10,472 posts, read 15,270,916 times
Reputation: 6396
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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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02-06-2009, 12:16 PM
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3,394 posts, read 3,822,293 times
Reputation: 9307
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Good time to buy.
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02-06-2009, 12:30 PM
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Location: Alaska & Florida
1,629 posts, read 5,202,520 times
Reputation: 835
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I'd rather we nationalize it instead of giving them billions more in relief.
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02-06-2009, 12:32 PM
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13,431 posts, read 19,823,155 times
Reputation: 7441
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I guess they would not need to change their name.
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02-06-2009, 12:38 PM
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Location: down south
514 posts, read 1,532,749 times
Reputation: 653
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Quote:
Originally Posted by 70Ford
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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02-06-2009, 01:45 PM
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Location: Georgia, on the Florida line, right above Tallahassee
10,472 posts, read 15,270,916 times
Reputation: 6396
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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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02-06-2009, 01:48 PM
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48,504 posts, read 93,371,052 times
Reputation: 18271
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That's all we need another goverment system like the postal system to subsidise very year.
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02-06-2009, 02:58 PM
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13,722 posts, read 18,205,416 times
Reputation: 16940
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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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02-06-2009, 05:33 PM
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Location: WA
5,605 posts, read 23,922,222 times
Reputation: 6448
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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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02-06-2009, 11:03 PM
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1,020 posts, read 2,451,903 times
Reputation: 553
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Quote:
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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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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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