Forum Post: Stop BofA transfer of Derivatives
Posted 12 years ago on Oct. 23, 2011, 3:32 p.m. EST by nedbojo
(1)
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Hi all. Bob Ivry, who wrote an article for Bloomberg about BofA's plans to transfer $78 trillion to its bank arm and thus insure it under FDIC, told me to contact the following in order to voice our concerns over this.
Congressmember and senator, FDIC, Office of the Comptroller of the Currency, Federal Reserve
cheers Nate
Thank you for bringing this to everyone's attention. This is exactly the kind of shenanigan we must not stand for (again). I think that in addition to calling the above offices - we should add it as an 'action alert' across the occupy movement to call attention to this issue. Otherwise other banks will continue to secretly move their 'marked to fantasy' investment assets under the public umbrella - WE are the FDIC (taxpayers), WE will not insure non-retail banking arms.