View Full Version : Bank of America...tough times, huh?
ZERO THEORY
11-10-2013, 02:25
http://business.time.com/2013/11/09/federal-prosecutors-hit-bank-of-america-with-864-million-fine/
Sorry but i do not get the "...tough times, huh?". Huh is about the most neanderthal sound we have, yet you ask it as a question. So is it a question of i do not get? Maybe a question of surprise? Maybe you get it but you do not know what to think about it your self? Maybe your just throwing it out there for someone to say something but have no idea of what to think about it your self and looking for a way to interpret by others?
Sorry i can not answer your question without what you are looking for.
http://business.time.com/2013/11/09/federal-prosecutors-hit-bank-of-america-with-864-million-fine/
Wow! Thats going to leave a mark! A couple of questions, do banks have insurance for stuff like this? Where does the 846 million dollars end up?
do banks have insurance for stuff like this?
-indeed. The economy of Bermuda would not exist were it not for some very creative insurance companies.
blacklabel
11-10-2013, 09:00
Sorry but i do not get the "...tough times, huh?". Huh is about the most neanderthal sound we have, yet you ask it as a question. So is it a question of i do not get? Maybe a question of surprise? Maybe you get it but you do not know what to think about it your self? Maybe your just throwing it out there for someone to say something but have no idea of what to think about it your self and looking for a way to interpret by others?
Sorry i can not answer your question without what you are looking for.
Rants about the poor use of "huh" in a poorly composed rant. Pot meet kettle.
Sorry but i do not get the "...tough times, huh?". Huh is about the most neanderthal sound we have, yet you ask it as a question. So is it a question of i do not get? Maybe a question of surprise? Maybe you get it but you do not know what to think about it your self? Maybe your just throwing it out there for someone to say something but have no idea of what to think about it your self and looking for a way to interpret by others?
Sorry i can not answer your question without what you are looking for.
Rough morning huh?
Wow! Thats going to leave a mark! A couple of questions, do banks have insurance for stuff like this? Where does the 846 million dollars end up?
The money comes from customers through increased costs and goes to the government. I'm sure they'll use it responsibly and wisely.
BPTactical
11-10-2013, 09:35
I see your "Huh" but trump it with an "Ugh" as the most Neanderthal word in our language.
Org said so.
Wiggle, grunt, scratch......ah, Sunday morning contentment.
ChunkyMonkey
11-10-2013, 09:46
I like turtle, do you like turtle?
http://youtu.be/CMNry4PE93Y
UrbanWolf
11-10-2013, 10:17
They are known for having an anti gun stance, some say they even decline debit card transaction for firearm related purchases. I don't feel bad about them.
They dropped customers that were in the firearm manufacture/accessory business.
Jeffrey Lebowski
11-10-2013, 10:27
I don't feel bad about them.
I don't feel bad for them either, but I'm not convinced this is a fair punishment. They were basically buck-passers in a whole crooked scheme from go. BOA didn't pass the CRA. Forced to make bad loans, they were one of many who bundled and passed the whole thing on. How about caveat emptor to the next investor from there?
I'll add my own neanderthal response to this whole thing: "Meh."
UrbanWolf
11-10-2013, 10:47
They dropped customers that were in the firearm manufacture/accessory business.
So if i go to them to create a business account for my gun shop, they will kick me out?
BushMasterBoy
11-10-2013, 11:18
I'm sure the fine is tax deductible. Smoke and mirrors from the .gov and the media. The .gov has to pay for the trillion bullets somehow. FEMA camps will keep us safe DOH!
As big as the fine is, I do not see Dusty Rhodes doing a "hard times" promo for them in the near future.
ZERO THEORY
11-10-2013, 15:17
Sorry but i do not get the "...tough times, huh?". Huh is about the most neanderthal sound we have, yet you ask it as a question. So is it a question of i do not get? Maybe a question of surprise? Maybe you get it but you do not know what to think about it your self? Maybe your just throwing it out there for someone to say something but have no idea of what to think about it your self and looking for a way to interpret by others?
Sorry i can not answer your question without what you are looking for.
Are you alright? It wasn't meant as an actual question. It's the American equivalent of "in'it?"
My point being that BoA is being fined $864 million dollars which is nothing to scoff at. Not sure why you decided to debate the semantics of the thread title, but if you'd like to discuss the actual topic at hand, feel free.
BOA is owned primarily by out of Country intersts.
So if i go to them to create a business account for my gun shop, they will kick me out?
Your mileage may vary. McMillan was told that's why their account was being closed;
http://www.theblaze.com/stories/2012/04/24/bank-of-america-allegedly-drops-mcmillan-gun-company-for-political-reasons/
The banking business in the USA has a long ugly history. I doubt this will change things much.
i wont deal with BOA any longer after their anti-gun stunts.
This doesn't even amount to a slap on the wrist for the criminals that crashed the US economy.
ZERO THEORY
11-10-2013, 21:00
i wont deal with BOA any longer after their anti-gun stunts.
Never have, never will.
This doesn't even amount to a slap on the wrist for the criminals that crashed the US economy.
Financially, no. But it's somewhat comforting to see that at least a few people in Washington were willing to make it clear that this stuff wouldn't be unimpeded.
spqrzilla
11-10-2013, 21:24
The case was about Countrywide Mortgage's practices. I'm not a Bank of the America fan, but they bought Countrywide - at the instigation of the government - after the conduct. So I really think this is a cheap shot by the Feds.
buffalobo
11-10-2013, 21:30
Just another transfer of wealth, in a round about way, from the pocket of the citizenry to the govt to the pocket of those who did not earn it.
Jeffrey Lebowski
11-10-2013, 21:58
This doesn't even amount to a slap on the wrist for the criminals that crashed the US economy.
Financially, no. But it's somewhat comforting to see that at least a few people in Washington were willing to make it clear that this stuff wouldn't be unimpeded.
Bankers didn't cause this mess. $0.02
ZERO THEORY
11-10-2013, 22:22
Bankers didn't cause this mess. $0.02
Go on. I'd say the bundling of bad mortgages was no small part of the economy's dwindling over the last few years. Albeit it by Chinese-owned companies, the banks were still participatory by proxy, in my opinion.
The banks were speculating in mortgage derivatives that were so complex that even they didn't understand them, loaning money to people that could not possibly qualify in any sane world, then foisting the resulting poisonous mortgages off on Fannie Mae and Freddie Mac(the taxpayers). They also profited from insurance based on the mistaken representation of those derivatives as safe "AAA" grade investments.
The banks were speculating in mortgage derivatives that were so complex that even they didn't understand them, loaning money to people that could not possibly qualify in any sane world, then foisting the resulting poisonous mortgages off on Fannie Mae and Freddie Mac(the taxpayers). They also profited from insurance based on the mistaken representation of those derivatives as safe "AAA" grade investments.
Moreover, AIG writing CDS to these banks were even dumber.
ZERO THEORY
11-10-2013, 23:53
http://www.thisamericanlife.org/radio-archives/episode/355/the-giant-pool-of-money
Are you alright? It wasn't meant as an actual question. It's the American equivalent of "in'it?"
My point being that BoA is being fined $864 million dollars which is nothing to scoff at. Not sure why you decided to debate the semantics of the thread title, but if you'd like to discuss the actual topic at hand, feel free.
It was meant as a joke but because some of you guys are being serious; A question mark denotes a question and i have no idea of what "in'it?" means. You set your self up for the off topic comments, sorry if it detracted from your thread but its true and HBAR has it right on. As for Org, i am sure he is right. I will take my punishment just ask him not to club me too hard.
Back on topic: These company should have died off in 2008 but the Gov, like an under wire bra, supported these bad business decisions. Now they want a fraction of our tax dollars they used for "bail outs" and the like for their own use. Fuck everyone involved for all i care. It is just more bad decisions.
spqrzilla
11-11-2013, 11:39
http://www.thisamericanlife.org/radio-archives/episode/355/the-giant-pool-of-money[Bang]
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