Bank(s) of America?
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Remember when BoA was the white knight, riding in on a pale horse to buy up Merrill Lynch and Nationwide? Turns out they were too busy look at the fair maidens to notice the dragons flying around over head. CityGroup (my uncle was a senior veep of City Bank, dammit) is even in worse shape. If their stock slides much lower, nationalising them won't wipe out any stockholder's equity, unless you're talking about something you can trade in for a couple of subway tokens. Shares in Bank of America Corp and Citigroup Inc tumbled to new multi-year lows in premarket electronic trading on Friday on what analysts and investors said was growing fears the two longtime pillars of the U.S. financial sector could soon be nationalized.[^] Paulson found a worthy successor in Geitner. More and more the general concensus seems to be that he has no idea what to do and when to do it or how to do it either - but apparently thinks he can run the banks better than their present management - which, come to think of it, is a claim a lot of us might be able to make with some validity.
Jon Smith & Wesson: The original point and click interface Algoraphobia: An exaggerated fear of the outside world rooted in the belief that one might spontaneously combust due to global warming.
I have this terrifying vision of the federal government being in charge of the interest rate on my BofA credit card, interest on my Savings account, fees on my checking account and setting all the ATM fees. If you think the IRS was bad, just wait for the Federal Bank of America. At least the IRS only picks your pocket on payday.
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Dumbo Dave wrote:
You wanna be careful, you're starting to sound like ilidiot!
And *you* are a fool and #a charlatan# And as everyone knows, the earth is as flat as a pancake so *why* do ^you^ insist on +talking+ with the @#$grownups?$# *I* *have* *no* *time* *to* *waste* *on* *liars,* *thieves,* *and* "knaves! What part did you find me acting like I have ileitis? The idea that the two banking conglomerates are about to be nationalised is all over Wall St, and the general disatisfaction with Geitner is attributed to the street's recognition that the banks are the key to our economy and that Geitner has, so far, not provided any signs he has a good idea about what to do. Personally, I'm trying to figure out whether my own funds in BoA are safe.
Jon Smith & Wesson: The original point and click interface Algoraphobia: An exaggerated fear of the outside world rooted in the belief that one might spontaneously combust due to global warming.
Oakman wrote:
What part did you find me acting like I have ileitis?
That comment is a bit anal if you ask me. :~
Simply Elegant Designs JimmyRopes Designs
Think inside the box! ProActive Secure Systems
I'm on-line therefore I am. JimmyRopes -
I have this terrifying vision of the federal government being in charge of the interest rate on my BofA credit card, interest on my Savings account, fees on my checking account and setting all the ATM fees. If you think the IRS was bad, just wait for the Federal Bank of America. At least the IRS only picks your pocket on payday.
Indirectly they already do for interest rates. They're invariably pegged to the rate on treasury bonds in some way shape or form.
Today's lesson is brought to you by the word "niggardly". Remember kids, don't attribute to racism what can be explained by Scandinavian language roots. -- Robert Royall
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I have this terrifying vision of the federal government being in charge of the interest rate on my BofA credit card, interest on my Savings account, fees on my checking account and setting all the ATM fees. If you think the IRS was bad, just wait for the Federal Bank of America. At least the IRS only picks your pocket on payday.
Rob Graham wrote:
I have this terrifying vision of the federal government being in charge of the interest rate on my BofA credit card, interest on my Savings account, fees on my checking account and setting all the ATM fees. If you think the IRS was bad, just wait for the Federal Bank of America.
that is the least of your worries. just wait until it is determined that there is simply no reason why Rob's bank balance could have been legitimately increased by $1,000 last Friday while Oakman's has stayed level. or gosh it is the time of the year to do the annual account balance sweep to ensure that everyone starts the new year on an even basis.
Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.
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Synaptrik wrote:
Does anyone really know what to do?
Well some are trying to find a way into the future. Perhaps if the red-necked neo-cons would accept that they failed they could start helping. One upshot is seeing RNNs making socialist sounding comments. That's why they're so quiet of late.
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Rob Graham wrote:
I have this terrifying vision of the federal government being in charge of the interest rate on my BofA credit card, interest on my Savings account, fees on my checking account and setting all the ATM fees. If you think the IRS was bad, just wait for the Federal Bank of America.
that is the least of your worries. just wait until it is determined that there is simply no reason why Rob's bank balance could have been legitimately increased by $1,000 last Friday while Oakman's has stayed level. or gosh it is the time of the year to do the annual account balance sweep to ensure that everyone starts the new year on an even basis.
Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.
Pick up your reloading supplies yet? Best to stock up on shotgun shells now, before anyone notices the buckshot can't be "tagged"...
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Indirectly they already do for interest rates. They're invariably pegged to the rate on treasury bonds in some way shape or form.
Today's lesson is brought to you by the word "niggardly". Remember kids, don't attribute to racism what can be explained by Scandinavian language roots. -- Robert Royall
Actually, only in theory. In practice, the banks can and do charge/pay whatever the market will bear. Bonds float around daily. CD/Savings/checking interest rates change quarterly at best, and annually in many cases. Interest charged on credit cards is whatever the market will bear or the law allow (the latter lately, as banks are trying to recoup their losses on the backs of credit card borrowers).
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Oakman wrote:
What part did you find me acting like I have ileitis?
That comment is a bit anal if you ask me. :~
Simply Elegant Designs JimmyRopes Designs
Think inside the box! ProActive Secure Systems
I'm on-line therefore I am. JimmyRopesJimmyRopes wrote:
That comment is a bit anal
So is Ilion. ;P
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JimmyRopes wrote:
That comment is a bit anal
So is Ilion. ;P
Rob Graham wrote:
JimmyRopes wrote:That comment is a bit anal So is Ilion.
Probably where he got his inspiration. :~
Simply Elegant Designs JimmyRopes Designs
Think inside the box! ProActive Secure Systems
I'm on-line therefore I am. JimmyRopes -
I have this terrifying vision of the federal government being in charge of the interest rate on my BofA credit card, interest on my Savings account, fees on my checking account and setting all the ATM fees. If you think the IRS was bad, just wait for the Federal Bank of America. At least the IRS only picks your pocket on payday.
Rob Graham wrote:
If you think the IRS was bad, just wait for the Federal Bank of America. At least the IRS only picks your pocket on payday.
I can't for the life of me remember which South American country recently nationalized everyone's 401K-equivalent, announcing that they would be handling everyone's pension plan from now on. . . But wouldn't that be an interesting way for Obama to 'solve' the Social Security 'problem?'
Jon Smith & Wesson: The original point and click interface Algoraphobia: An exaggerated fear of the outside world rooted in the belief that one might spontaneously combust due to global warming.
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Synaptrik wrote:
Does anyone really know what to do?
Well some are trying to find a way into the future. Perhaps if the red-necked neo-cons would accept that they failed they could start helping. One upshot is seeing RNNs making socialist sounding comments. That's why they're so quiet of late.
AndyKEnZ wrote:
Perhaps if the red-necked neo-cons would accept that they failed they could start helping
Start helping who? The government so they can nationalize the banks faster? The best thing for republicans to do is not support the current admin.