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First Zero bails-out AIG and blows a couple trillion ... then AIG turns around in it's total greed and brings down BOA, precipitating another round of TBTF (too big to fail) ...
1 posted on 08/08/2011 9:12:18 AM PDT by Nobel_1
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To: Nobel_1

Wouldn’t that be another Obama downgrade?


2 posted on 08/08/2011 9:14:34 AM PDT by Freddd (NoPA ngineers.)
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To: Nobel_1

It couldn’t happen to a more deserving bank.


3 posted on 08/08/2011 9:14:40 AM PDT by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
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To: Nobel_1

Couldn’t happen to a nicer bank...


4 posted on 08/08/2011 9:15:16 AM PDT by null and void (Day 928. When your only tools are a Hammer & Sickle, everything looks like a Capitalist...)
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To: Nobel_1

Wonder how that giving credit cards to illegals worked out for them?


5 posted on 08/08/2011 9:15:23 AM PDT by gop4lyf (Socialism is the political dream of the unachiever, the excuse maker, and the lazy.)
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To: Nobel_1

how does this affect the consumer level? Mega-lo bank is my bank (unfortunately)... on a side note... we still have some stocks(from back in the good ‘ole days) and I have really been wondering if we need to cash them in and do like my grandfather did.... cash in a safe......


9 posted on 08/08/2011 9:16:38 AM PDT by Newton ('No arsenal is so formidable as the will and moral courage of free men and women.' -Ronald Reagan)
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To: Nobel_1
How long before a calculator is needed to count the 0bama clusterf***s?
10 posted on 08/08/2011 9:17:02 AM PDT by EGPWS (Trust in God, question everyone else)
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To: Nobel_1
Bush bailed[counterparties in AIG’s derivative deals paid 100%] out AIG first.

AIG and others are responsible for their own actions. Perhaps they would have researched risk before preparing CDS and other sure things.

11 posted on 08/08/2011 9:19:03 AM PDT by Palter (Celebrate diversity .22, .223, .25, 9mm, .32 .357, 10mm, .44, .45, .500)
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To: Nobel_1
Bank Of Anti-America.
13 posted on 08/08/2011 9:20:31 AM PDT by JPG (Yes She Can!)
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To: Nobel_1

Pity.

They were always so helpful and focused on their customers’ wellbeing.


18 posted on 08/08/2011 9:32:48 AM PDT by lurk
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To: Nobel_1
First Zero bails-out AIG and blows a couple trillion

1) I think that was Paulson/Bush with TARP.
2) How was AIG bailed out? The name and hierarchy remain, but the stockholders in AIG, which ARE the company, were DESTROYED!!!
3) The shell that AIG became was the needed washing machine so that Paulson/Bush could launder money that was suppossed to pay for "toxic assets" but was instead directly infused into banks foreign and domestic.

19 posted on 08/08/2011 9:34:08 AM PDT by Roccus (Obama & Holder LLP, Procurers of fine arms to the most discerning drug lords (202) 456-1414)
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To: Nobel_1
What does this mean for my BofA credit card? Will the balance just be written off?

I do continue to make payments on it, and I am not behind.

21 posted on 08/08/2011 9:36:06 AM PDT by ShadowAce (Linux -- The Ultimate Windows Service Pack)
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To: Nobel_1
First Zero bails-out AIG and blows a couple trillion ... then AIG turns around in it's total greed and brings down BOA, precipitating another round of TBTF (too big to fail) ...

It was 2008 when AIG almost detonated. Ergo, it was Obama's illustrious predecessor, George Dubya Bush who rescued AIG.

Much of that money has now been repaid by AIG which has managed to unwind many of its derivatives and sell off some of its profitable operations.

I can't imagine why AIG would go after BoA. I mean BoA only bought mega CDS on a bunch of crap mortgages while telling AIG that they were rock solid. Fraud is no big deal, is it?

22 posted on 08/08/2011 9:36:59 AM PDT by marshmallow (.)
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To: Nobel_1

I closed my B of A account years ago when I recognized their corruption. Since TARP, I no longer accept checks drawn on B of A. They are (like GM/Chrysler) under a permanent boycott. I will celebrate when this sleazy company dies a well-deserved death. If DC bails it out, anyone who votes for the bailout is also under a permanent boycott and will never get my vote or support. They’ve had a chance to rethink the Bailout/TARP, and anyone who supports that stupidity a second time does not belong in office.


29 posted on 08/08/2011 9:51:11 AM PDT by Pollster1 (Natural born citizen of the USA, with the birth certificate to prove it)
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To: Nobel_1
Bankruptcy contemplated?

By who? The author of the article?

This is journalism?

34 posted on 08/08/2011 9:55:44 AM PDT by Siena Dreaming
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To: Nobel_1

*


37 posted on 08/08/2011 10:02:19 AM PDT by PMAS
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To: Nobel_1
Bank of America was formerly NationsBank, which was formerly North Carolina National Bank.

I remember when NationsBank merged with BankAmerica in 1998. Stories in the San Francisco Chronicle at the time said that the CEO of Bank of America was duped by the CEO of NationsBank into accepting a merger on terms that NationsBank later reneged on.

BofA lawsuit charges merger plot-Stockholder says top execs withheld crucial data

Charging that deception by top officers concealed the true nature of the NationsBank-BankAmerica merger, a San Mateo BofA stockholder has sued to recover the millions that it allegedly cost him and other investors.

Gregory Baker, a dentist who owned 100 shares of BofA stock before the Sept. 30 merger, is seeking class-action status for the lawsuit, which was filed in San Francisco County Superior Court last week.

Baker contends that the banks' officers colluded in a scheme to conceal the true nature of the merger. It was not, as they insisted at the time, one of equals. Rather, alleges Barker, NationsBank was taking over BofA.

Baker alleges that the proxy statement mailed to shareholders Aug. 12, 1998, was intentionally false and misleading, contained serious misrepresentations and omitted critical material that could have changed the merger vote.

-PJ

42 posted on 08/08/2011 10:07:18 AM PDT by Political Junkie Too (Everyone's Irish on St. Patrick's Day, Mexican on Cinco de Mayo, and American on Election Day.)
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To: Nobel_1

I like how karma has played out with BOA....lovely stuff.


43 posted on 08/08/2011 10:11:02 AM PDT by cranked
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To: Nobel_1

They just bought my mortgage refi, does that mean I don’t have to pay it back???


45 posted on 08/08/2011 10:27:16 AM PDT by Airwinger (Semper Fi, Time to use that motto for our Constitution. (ALWAYS FAITHFUL!))
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To: Nobel_1
This is not good news folks. Like or not like BofA; it's really bad news if they would go under or need help.
57 posted on 08/08/2011 11:39:00 AM PDT by HereInTheHeartland (I love how the FR spellchecker doesn't recognize the word "Obama")
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To: Nobel_1

The community organizers supportive house of cards is coming down


76 posted on 08/08/2011 5:23:02 PM PDT by ronnie raygun (V)
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