Bank of America Is in Deep Trouble

BeforItsNews.com ^ | November 11, 2010 | Joshua Holland

[The Comedian]

Bank of America Is in Deep Trouble, and There May Be Financial Disaster on the Horizon

Will Bank of America be the first Wall Street giant to once again point a gun to its own head, telling us it'll crash and burn and take down the financial system if we don’t pony up for another massive bailout?

When former Treasury Secretary Hank Paulson was handing out trillions to Wall Street, BofA collected $45 billion from the Troubled Asset Relief Program (TARP) to stabilize its balance sheet. It was spun as a success story -- a rebuke of those who urged the banks be put into receivership -- when the behemoth “paid back” the cash last December.

But the bank’s stock price has fallen by more than 40 percent since mid-April, and the value of its outstanding stock is currently at around half of what it should be based on its “book value” -- what the company says its holdings are worth.

...

Much of that toxic paper remains on their books -- somewhere. The assets are still impossible to price and now several Wall Street titans appear to be approaching a tipping point, poised to once again to extort a mountain of cash from our Treasury by claiming to be too big -- and interconnected -- to crash and burn as the principles of the free market would otherwise dictate.

[BenKenobi]

Hardly. All it would take is the revaluation of Gold to reflect it’s true scarcity.

[Bean Counter]

That’s what worries me. If we valued gold according to it’s scarcity, that would prove my point. It might take a solid gold asteroid to provide enough gold to balance things out.

I realize the extreme nature of my comment. I think part of the problem is trying to get my mind around 1 Trillion of anything, much less 14 Trillion Dollars and rising.

It’s not unlike trying to get a handle on just how far 1 Million Light Years is as opposed to 100 Trillion Light Years....

[April Lexington]

Please to remember B of A was forced to gobble up Countrywide Mortgage at, I think, gun point. This was the poison pill that will destroy B of A...

[FromLori]

Jamie Morgan is obama’s favorite banker there was a reason they backed him for so long and it’s about to pay off what this article fails to recognize is his contributions from them. My bet is he will indeed sign this bill.

The Great MERS Whitewash Bill - Class Action Lawsuits Force Mortgage Puppet To Turn To Captured Congress

http://dailybail.com/home/the-great-mers-whitewash-bill-class-action-lawsuits-force-mo.html

http://www.nytimes.com/2009/07/19/business/19dimon.html?_r=2&hp=&pagewanted=print

JPMorgan CEO Jamie Dimon Donates Serious Cash to Democrats

http://www.opensecrets.org/news/2009/07/jpmorgan-ceo-jamie-dimon-donat.html

[FromLori]

Is that tied to the European thing where they plan on taking out their money in December? Or that Steve Quayle rumor?

Is There a Secret Operation by the Fed to Limit the Amount of Cash Americans Can Hold?

http://www.economicpolicyjournal.com/2010/11/secret-battle-against-holding-currency.html

[Whenifhow]

Is There a Secret Operation by the Fed to Limit the Amount of Cash Americans Can Hold?
^^^^^^^^^^^^^^^^
I don’t know about the question above.

That video came from this channel (connectingdots1) which I think might be a good source of information. I don’t think it had anything to do with the Steve Quayle “rumor”.

http://www.youtube.com/user/connectingdots1

Related

“The Secret Of Oz” - The Truth Behind The Modern Financial System,... (Free link to movie)

http://www.freerepublic.com/focus/f-news/2627268/posts

Devaluing The Dollar... GOLD & SILVER - Alert

http://www.freerepublic.com/focus/f-bloggers/2627130/posts

[April Lexington]

Strange photo. That is, as they say..., awfully low hanging fruit...