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Originally Posted by TheDoc
The super Corporations did not/do not make this Country a superpower.... the people did and always will be what does it. Without the people, the Corps would have zilch!
What did Bank of America invent, or what unique service do they provide, what is amazing about them? We aren't talking about Microsoft's piss 50 billion in stocks....... BoA got 400 billion in bailouts, is profiting hundreds of millions has profited billions, getting millions back in returns, getting every bad loan made covered with our tax dollars, and getting the property back on every screwed deal they did...
BoA isn't responsible for helping our Country at any level... they are partly responsible for stealing our money, including yours... and taking a big ass chunk of it legally to. If this is a service, it's damn sure one I don't want anymore.
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According to the US Treasury and the records of the Tarp bail-out fund BOA received $20B along with the $118B worth of guarantees against bad assets seeing how they bought Merrill Lynch. For that deal to have been approved BOA agreed to meet strict restrictions on executive pay and keep on the 2,200 employees from Merrill Lynch. Most of the losses from Merrill Lynch that BOA agreed to acquire where from Fanny and Freddie, so they took the almost 1 Trillion loss from that over 10 years knowing the funds to be paid back where guaranteed by the US Treasury.
Your assessment of BOA is more than slightly off to say the least.