Skip to comments.Bank of America Downgraded By Bond Market
Posted on 10/15/2010 9:25:16 PM PDT by dollarbull
Bondholders are penalizing Bank of America Corp. the most of any of the largest U.S. financial firms as the investigation into the foreclosure crisis expands.
Credit-default swaps on the countrys largest bank by assets rose above those of its peers by a record margin, according to data provider CMA. The contracts, which imply Bank of America has lost its investment-grade rating, exceed Citigroup Inc.s by the most ever and surpassed Morgan Stanleys this week for the first time in a year.
(Excerpt) Read more at fxnonstop.com ...
Nope. Just like ‘08 they will be given a huge bailout. Laws are for peasants not the elites.
ignoring everything else everytimes I’ve gone in there the staff have been dicks. Hell my local bank has better service.
They are still too big to fail and too big not to profit. All the banks are really in the same boat. I heard a legal speaker today who forecasted a real disaster with these undocumented mortgages. The next companie to go down will be the Title Ins. cos. Then some of the buyers of foreclosed homes will end up with a mess.
What else did this speaker say about this mess?
I think one of the big questions is how this will play out.
Will the gov take over all titles of homes in this country?
How will title be cleared when the notes have been destroyed?
Politically, the banks have been “saved” so far. Will that continue?
“Laws are to protect the elites from those they plunder.”
Bank of America is the illegal alien sh*t bank. The banks and newspaper stock got killed today.
The elites signed you up for a mortgage payment so you could buy a house. Then they sold the mortgage to your 401K, and they made a bundle off the deal. When the paper turned toxic, they got the government to give them a bailout.
Now your 401K isn’t worth anything, and your taxes are going up. You can’t make the payment and they’re gonna foreclose just as soon as they can sort out the paperwork. Then they’ll sell your house to someone one else.
And the beat goes on.
Like GM, BOA will leave the bondholders and taxpayers holding the bag. I think they were “encouraged” by the regime to buy the failed Countrywide and Merrill Lynch. That’s my opinion. They know how to play the game.
gosh things are getting interesting
These days remind of the old Buchanan Brigades back in Nashville.
So.....get in your lounge chair, get a good view and watch the tsunami wash you and your family away. It will a horrible end for 95% of Americans. It is a crying shame...it needent come to this had we remained vigilent and demanded leaders of high moral character.
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