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Forum Post: 10 Reasons not to bank on (or bank with) Bank of America

Posted 3 years ago on Oct. 28, 2011, 6:22 p.m. EST by jansberry (52)
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[-] 1 points by MonetizingDiscontent (1257) 3 years ago

Beautiful Post jansberry. Couldn't help myself from including these links on your thread here.

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Federal Reserve Now Backstopping $75 TRILLION Of Bank Of America's Derivatives Trades

(This move amounts to a direct transfer from derivatives counterparties of Merrill to the taxpayer, via the FDIC)

http://dailybail.com/home/holy-bailout-federal-reserve-now-backstopping-75-trillion-of.html

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William Black: Not With A Bang, But A Whimper: Bank Of America’s Derivatives Death Rattle

http://dailybail.com/home/william-black-not-with-a-bang-but-a-whimper-bank-of-americas.html

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Bank of America Deathwatch: Moves Risky Derivatives from Holding Company to Taxpayer-Backstopped Depository

http://www.nakedcapitalism.com/2011/10/bank-of-america-deathwatch-moves-risky-derivatives-from-holding-company-to-taxpayer-backstopped-depositors.htm

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(BLOOMBERG) - "So this move amounts to a direct transfer from derivatives counterparties of Merrill to the taxpayer, via the FDIC..."

http://www.bloomberg.com/news/2011-10-18/bofa-said-to-split-regulators-over-moving-merrill-derivatives-to-bank-unit.html