Posted on 06/14/2012 2:14:10 PM PDT by Ernest_at_the_Beach
The unholy alliance between bankers and government is on naked display.
It’s the black hole in the kitchen: huge, obvious, and silent. And boy does it suck. As Climate Depot points out, Bank of America got a $45 billion bailout from the government during the global financial crisis. Now it’s promising $50 billion to “address Climate Change”. How Green is your Bankster?
It’s a feeding frenzy:
The bank’s new initiative includes lending, equipment finance, capital markets and advisory activity and carbon finance, as well as advice and investment help.
Bank of America will focus on promoting energy efficiency; renewable energy, including wind, solar and hydropower; lower-carbon transportation like electric and hybrid vehicles; and water and waste treatment and disposal initiatives. [Capitalgr]
They already spend nearly $20bn on climate and did it four years ahead of schedule. So why not $5obn?
The company has spent $17.9 billion toward its initial pledge, including $8.4 billion for energy efficiency activities, including low-cost loans and grants for retrofitting low-income neighborhoods for energy efficiency. It spent $5 billon on renewable energy projects, including helping the San Jose Unified School District in California to run on solar energy. An additional $1 billion went to consumer financing of hybrid vehicles. [WSJ]
A billion here, a billion there, and soon they’ll be talking real money.
Marc Morano asks “is that more than Heartland spends?” / sarc
Well Marc, says Jo, don’t forget it is spread over 10 years. 
It’s only a thousand times the Heartland budget. Expect the guys at DeSmog to immediately set up a Bank-of-America-Secrets site to protest at the evil influence large corporates have over democracy. SourceWatch will graphically connect Bank of America to scientists, solar companies, wind investors, Green Foundations, donors to the Democrats and on and on into one spaghetti bunker of vested interests. We look forward to it.
Meanwhile the global carbon market hit $176 Billion in 2011. The bankster-government self feeding loop operates independently but coincidentally in concert with the corporate-media loop: GE owns NBC, the Weather channel and lots and lots of wind turbine factories.
Any day now, the innumerate chanters of the “Big-Oil Funded Deniers” cult will learn to count past 10, and realize that they’ve been the useful idiots for the Money Masters. And pigs will fly (collect their dividends and end-of-year bonuses).
Does Climate Money matter? Is a monopoly good for a market?
Meanwhile the sleeping public dozes on zzzzzzzzzzzzzzzzzzzzzzzzzzz….
* * *
If you think the public needs to be woken up to the real conflicts of interest,
please support those who work against the billion dollar politico-industrial complex.
Every dollar for truth appears to be worth $1,000 for those pushing a self-serving agenda.
h/t Marc Morano
Just liberals buying up everything...Chicago style.
Only to help naive folks for a moment....the only way that a bank can offer fifty billion over ten years...is by higher fees. They certainly aren’t going to cut profits....unless they’ve got a senator writing a massive tax credit to shift money normally paying taxes....to pay environmental causes. Either way....you the private citizen, or you the consumer....lose.
I got rid of BoA two years ago when I bought another house. They wanted to charge me $15 for a cashier’s check for the amount I wanted to use on the down payment for my new home. I simply told them I would not pay it and they could give me the $75K I wanted in cash, and they could also close my accounts and give me that amount in cash as well.
They backed down off the fee pretty quick and gave me the check for free, but I still closed my account that day.
I hate sounding like a nut job “99%er” but big banks are truly evil incarnate. And this story just confirms they are managed by idiots as well.
50 Billion dollars is a paltry amount to what they make laundering the money for drug dealers.
When was the last time you saw a bank official locked up for money laundering?
Reason 267 why BoA is NOT my bank. A friend, who banked at BoA, told me recently BoA wanted to charge her for a book of deposit slips. She’s now banking at my bank :)
Why they have any customers left after their last fiasco is beyond me.
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