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Thread: Bailed Out Bank of America Sponsors Super Bowl Fun Fest

  1. #41
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    Re: Bailed Out Bank of America Sponsors Super Bowl Fun Fest

    Quote Originally Posted by American View Post
    Standard practice got us in trouble.
    No. Standard practice was circumvented by law because it was "racist." Giving loans to people with no demonstrable history of paying or ability to pay is what got us into trouble.
    “Offing those rich pigs with their own forks and knives, and then eating a meal in the same room, far out! The Weathermen dig Charles Manson.”-- Bernadine Dohrn

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    Re: Bailed Out Bank of America Sponsors Super Bowl Fun Fest

    Quote Originally Posted by American View Post
    Of course, but not when you're on your way to bankrupcy.
    BoA's on its way to bankruptcy? Since when?

    BANK OF AMERICA CORP /DE/ (Form: 10-Q, Received: 11/06/2008 17:02:52)

    Not exactly as bad as the market thinks it is.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

  3. #43
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    Re: Bailed Out Bank of America Sponsors Super Bowl Fun Fest

    Quote Originally Posted by American View Post
    Standard practice got us in trouble.
    As Harshaw pointed out, it's not. The repeal of key aspects of the GSA by Republicans was a massive deviation from standard practice for decades. The use of mortgages as social policy on a wide scale (remember CRA loans were a measly $20 billion, less then the bailout to Detroit) wasn't standard practice. Conservative, standard practices don't lead to the Neil Bush (yes, that's dubya's brother) S&L crisis.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Bailed Out Bank of America Sponsors Super Bowl Fun Fest

    Quote Originally Posted by obvious Child View Post
    BoA's on its way to bankruptcy? Since when?

    BANK OF AMERICA CORP /DE/ (Form: 10-Q, Received: 11/06/2008 17:02:52)

    Not exactly as bad as the market thinks it is.
    Are they receiving any bailout money?
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
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  5. #45
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    Re: Bailed Out Bank of America Sponsors Super Bowl Fun Fest

    Quote Originally Posted by Khayembii Communique View Post
    In order for the company to show where it allocated the money it would have to essentially "open its books" and make its entire budget public.
    Only if they misappropriated the bailout money into their "entire budget" instead of just boosting their credit capitol like they were supposed to.

    When you borrow money from a bank, they track every penny of that money and often they want to know exactly what you're spending it on. So when banks borrow money from ME, I expect exactly the same traceability and accountability that they expect from their borrowers. The fact that they didn't, and the excuses they've given for why they didn't, just makes me sick. Friggin thieves!!

  6. #46
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    Re: Bailed Out Bank of America Sponsors Super Bowl Fun Fest

    Quote Originally Posted by American View Post
    Are they receiving any bailout money?
    According to my link in post #24, Bank of America and Citibank are two of the largest recipients of the bailout money.

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    Re: Bailed Out Bank of America Sponsors Super Bowl Fun Fest

    Quote Originally Posted by Binary_Digit View Post
    According to my link in post #24, Bank of America and Citibank are two of the largest recipients of the bailout money.
    Hmmm, but they're not in real trouble or going bankrupt, right? So why do they need money?
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: Bailed Out Bank of America Sponsors Super Bowl Fun Fest

    Quote Originally Posted by obvious Child View Post
    As Harshaw pointed out, it's not. The repeal of key aspects of the GSA by Republicans was a massive deviation from standard practice for decades. The use of mortgages as social policy on a wide scale (remember CRA loans were a measly $20 billion, less then the bailout to Detroit) wasn't standard practice. Conservative, standard practices don't lead to the Neil Bush (yes, that's dubya's brother) S&L crisis.
    Sure. And the Clinton amendments to the Community Reinvestment Act, coupled with Democrats' blocking of efforts to regulate the secondary markets created by them (again, this would be "racist" because it would have dried up subprime lending, and thanks for the contributions, Mr. Raines) had nothing to do with it. Because lending to someone with 480 credit was conservative standard practice, of course.
    “Offing those rich pigs with their own forks and knives, and then eating a meal in the same room, far out! The Weathermen dig Charles Manson.”-- Bernadine Dohrn

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    Re: Bailed Out Bank of America Sponsors Super Bowl Fun Fest

    Quote Originally Posted by American View Post
    Hmmm, but they're not in real trouble or going bankrupt, right? So why do they need money?
    Because they can. Everyone is jumping on the bailout wagon. It's a reason why the Bailout wagon needs to have its wheels removed.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Bailed Out Bank of America Sponsors Super Bowl Fun Fest

    Quote Originally Posted by Harshaw View Post
    Sure. And the Clinton amendments to the Community Reinvestment Act, coupled with Democrats' blocking of efforts to regulate the secondary markets created by them (again, this would be "racist" because it would have dried up subprime lending, and thanks for the contributions, Mr. Raines) had nothing to do with it.
    Of course. The Dems were just as bad. Both parties screwed us by using mortgages as a country wide social policy tool.

    Because lending to someone with 480 credit was conservative standard practice, of course.
    Conservative in making my wallet fat for the time being?

    Either way, standard practice was long abandoned. Thus, we agree that American is wrong.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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