Good ideas and conversation. No ads, no tracking. Login or Take a Tour!
b_b · 4816 days ago · link · · parent · post: BofA shifts all its CDO losses onto an FDIC (taxpayer) insured subsidiary
This is almost unbelievable to read. I, shamefully, am a BoA customer, because I started banking with a local bank long ago that got bought out by a bigger bank who in turn got bought out by BoA. Maybe the way out of this for them is to start charging $20/mo for debit cards! I am making the switch to a credit union by week's end; I've had enough.
This is what Obama gets for sticking with Bush's financial team to create continuity in a crisis. He should make an abrupt change, and completely sack the Clinton-Bush-Obama players. They have created or been complicit this mess and they CANNOT fix it, because their pride depends on proving they were right all along. Its too late for them to see the forest for the trees, unfortunately.