Bank of America Downgraded By Bond Market

fxnonstop.com ^ | Oct 15, 2010 10:16 AM PT | Mary Childs

[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 country’s 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 Stanley’s this week for the first time in a year.

[dollarbull]

Hopefully this is the final nail in the coffin of these immoral, unethical, counterfeiting fraudsters.

[Eyes Unclouded]

Nope. Just like ‘08 they will be given a huge bailout. Laws are for peasants not the elites.

[utherdoul]

ignoring everything else everytimes I’ve gone in there the staff have been dicks. Hell my local bank has better service.

[Oldexpat]

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.

[TruthConquers]

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?

[coloradan]

“Laws are to protect the elites from those they plunder.”

[Frantzie]

Bank of America is the illegal alien sh*t bank. The banks and newspaper stock got killed today.

[advance_copy]

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.

[Carismar]

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.

[genghis]

gosh things are getting interesting

[TomasUSMC]

These days remind of the old Buchanan Brigades back in Nashville.

[Texas Songwriter]

The planned deception by Bernanke and the FED is right on schedule. The failure of the 'too big to fail' banks will repercuss across this economy and propagate a derivitive 'nuclear fission' among dervitive holders and their counterparties which will have no fix. It will not be repaired until the US defaults and restructures. Perhaps wWIII will delay it, but that does not seem the way they are guiding this fall. However when billionaires begin to loose huge, nation-states may engage. Other theories are out there but it seems these are the likely 2 choices which will prevail. This is heavyduty crap. The train has left the tracks and the light is headed right for you and your family. I would not have even entertained these notions 15 years ago. I see no other reasonable conclusion.

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.