Do you think Bank of America will go under?

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • crockett
    in a van by the river
    • May 2003
    • 76818
    #1

    Do you think Bank of America will go under?

    Things seem to be looking worse and worse for BoA as today they along with 4 other of the big 6 banks were downgraded by S&P to A-.

    With the loss of business from all the people transferring to community banks or credit unions they have to be feeling the pinch, being are were the largest bank in the US. Added to this they were one of the worst culprits of the whole banking fiasco that has caused this country and even the world a lot of grief.

    They keep getting bad publicity after bad publicity and they deserve it but I wonder how long can they hold up? Personally, I think it would serve them right to go under, but I guess only time will tell if they stay alive or not.
    Last edited by crockett; 11-29-2011, 08:09 PM.
    In November, you can vote for America's next president or its first dictator.
    Tags: None
    • LeRoy
      Porn Pusher
      • Jul 2007
      • 13364
      #2
      They charge tons of fees.

      They're here to stay
      JAPANESE CAMS AND CONTENT SITES
      Teams - leroy.rowland2
      Telegram - @lroddd

        Comment

        • scuba steve
          Confirmed User
          • Oct 2008
          • 1888
          #3
          Aren't they the equivalent of something like GE or GM? On of those bigger disasters if it happens?

            Comment

            • BIGTYMER
              Junior Achiever
              • Nov 2004
              • 17066
              #4
              Our gov would never let them fail.

                Comment

                • 96ukssob
                  So Fucking Banananananas
                  • Mar 2003
                  • 12991
                  #5
                  Originally posted by crockett
                  Things seem to be looking worse and worse for BoA as today they along with 4 other of the big 6 banks were downgraded by S&P to A-.

                  With the loss of business from all the people transferring to community banks or credit unions they have to be feeling the pinch, being are were the largest bank in the US. Added to this they were one of the worst culprits of the whole banking fiasco that has caused this country and even the world a lot of grief.

                  They keep getting bad publicity after bad publicity and they deserve it but I wonder how long can they hold up? Personally, I think it would serve them right to go under, but I guess only time will tell if they stay alive or not.
                  they are the nations largest bank and quoted "to big to fail." their issue is the purchase with countrywide, that really screwed them over so now they rape bank customers on fees to recover that.

                  i paid my credit card the DAY it was due last month and got a late fee. they said the put the late fee on the accounts at close of business at 4pm, but I paid it at 6pm. it was a struggle to have them remove it
                  Email: Clicky on Me

                    Comment

                    • Rochard
                      Jägermeister Test Pilot
                      • Dec 2001
                      • 75733
                      #6
                      When they bought out Countrywide I was stunned. Who the fuck would buy such a large mortgage company as it was crashing down? That was pure stupidity.
                      Herschel Savage
                      Brooklyn, NY

                        Comment

                        • Solace
                          So Fucking Banned
                          • Nov 2011
                          • 995
                          #7
                          Originally posted by BIGTYMER
                          Our gov would never let them fail.
                          Yes the owners of your government would never let them fail

                            Comment

                            • Choker
                              Confirmed User
                              • Apr 2001
                              • 9024
                              #8
                              Originally posted by Rochard
                              When they bought out Countrywide I was stunned. Who the fuck would buy such a large mortgage company as it was crashing down? That was pure stupidity.
                              Feds strong armed them into buying it in return for a bailout.
                              ICQ me lets make a deal 116894466

                              Need dating, cam, or tube traffic? I got it.http://http://www.chokertraffic.com

                              The Original http://www.chokertraffic.com/

                              Premium country pop-unders from $1.50 per k. I challenge you to compare this traffic to any other brokers.
                              http://www.chokertraffic.com/public/tabs.php?t=o

                                Comment

                                • epitome
                                  So Fucking Lame
                                  • Jun 2009
                                  • 12156
                                  #9
                                  BofA recently lost their spot as biggest bank and is now second biggest. I think JP Morgan Chase moved to #1.

                                    Comment

                                    • FreeHugeMovies
                                      Too lazy to set a custom title
                                      • Dec 2001
                                      • 14141
                                      #10
                                      Hell no B of A isn't going under.

                                        Comment

                                        • Houdini
                                          Confirmed User
                                          • Dec 2001
                                          • 1651
                                          #11
                                          Government won't let it fail. If anything, they'll break it up to get the bad assets away from the core business. Another dollar or two and it will be a 400-500% return on the upside in a few years. Wait until Greece defaults and S&P is sub 1000 to start buying.

                                            Comment

                                            • Sid70
                                              Downshifter
                                              • Dec 2002
                                              • 16413
                                              #12
                                              Wells Fargo! Go as Far as you can!
                                              Русня, идите нахуй!

                                                Comment

                                                • faxxaff
                                                  Confirmed User
                                                  • Dec 2002
                                                  • 2134
                                                  #13
                                                  I will start buying BAC once it dips below 3$ a share. A double bottom would be a perfect buy signal.
                                                  Asian Babes

                                                    Comment

                                                    • TurboAngel
                                                      H.B.I.C.
                                                      • Jun 2003
                                                      • 30122
                                                      #14
                                                      Probably not.

                                                        Comment

                                                        • JA$ON
                                                          Confirmed User
                                                          • Aug 2007
                                                          • 1329
                                                          #15
                                                          Originally posted by faxxaff
                                                          I will start buying BAC once it dips below 3$ a share. A double bottom would be a perfect buy signal.
                                                          Aint gunnu happen. I loaded up last week when it hit its 52 wk Low. Already sold out the BAC DEC 5's. God I love this insane up and down market....even my dog can make 25% a month trading options, lol

                                                            Comment

                                                            • Sly
                                                              Let's do some business!
                                                              • Sep 2004
                                                              • 31376
                                                              #16
                                                              Originally posted by crockett
                                                              Things seem to be looking worse and worse for BoA as today they along with 4 other of the big 6 banks were downgraded by S&P to A-.

                                                              With the loss of business from all the people transferring to community banks or credit unions they have to be feeling the pinch, being are were the largest bank in the US. Added to this they were one of the worst culprits of the whole banking fiasco that has caused this country and even the world a lot of grief.

                                                              They keep getting bad publicity after bad publicity and they deserve it but I wonder how long can they hold up? Personally, I think it would serve them right to go under, but I guess only time will tell if they stay alive or not.
                                                              Nationally, the Credit Union National Association said credit unions gained 40,000 new members and $80 million in new savings account funds on Bank Transfer Day.

                                                              And that was just one day. Between Sept. 29, when Bank of America announced a $5 monthly debit card fee, and Nov. 5, credit unions gained 650,000 customers and $4.5 billion in new savings, more new members than in all of 2010, the association said.


                                                              Read more: http://rapidcityjournal.com/news/cus...#ixzz1fEtGrL00

                                                              So that is $4.5 billion and 650,000 customers spread across multiple major banks. That is peanuts.
                                                              Vacares - Web Hosting, Domains, O365, Security & More - Paxum and BTC Accepted

                                                              Windows VPS now available
                                                              Great for TSS, Nifty Stats, remote work, virtual assistants, etc.
                                                              Click here for more details.

                                                                Comment

                                                                • stocktrader23
                                                                  Let's do some business.
                                                                  • Jan 2003
                                                                  • 18781
                                                                  #17
                                                                  Originally posted by Sly

                                                                  So that is $4.5 billion and 650,000 customers spread across multiple major banks. That is peanuts.
                                                                  $4.5 billion gives them a lot more than $4.5 billion in loans they can make. In fact, if enough money is removed they would have more loans out than legally allowed based on their deposits on hand. Pulling money out of a bank hurts them exponentially just like putting it in helps them much more than the $2000 in your savings account.


                                                                  Hands Free Adult - Join Once, Earn For Life

                                                                  "I try to make a habit of bouncing my eyes up to the face of a beautiful woman, and often repeat “not mine” in my head or even verbally. She’s not mine. God has her set aside. She’s not mine. She’s His little girl, and she needs me to fight for her by keeping my eyes where they should be."

                                                                    Comment

                                                                    • Sly
                                                                      Let's do some business!
                                                                      • Sep 2004
                                                                      • 31376
                                                                      #18
                                                                      More than half of all checking accounts are currently unprofitable, according to a report issued last month by Celent, a unit of Marsh & McLennan Cos. It costs most banks between $250 and $300 a year to maintain one of the roughly 200 million checking accounts, according to industry estimates.

                                                                      http://online.wsj.com/article/SB1000...932315142.html
                                                                      Vacares - Web Hosting, Domains, O365, Security & More - Paxum and BTC Accepted

                                                                      Windows VPS now available
                                                                      Great for TSS, Nifty Stats, remote work, virtual assistants, etc.
                                                                      Click here for more details.

                                                                        Comment

                                                                        • Sly
                                                                          Let's do some business!
                                                                          • Sep 2004
                                                                          • 31376
                                                                          #19
                                                                          All of that hard and easily liquidated currency is known as the M0 money supply. This includes the bills and coins in people's pockets and mattresses, the money on hand in bank vaults and all of the deposits those banks have at reserve banks [source: Hamilton]. According to the Federal Reserve, there was $908.6 billion in the M0 supply stream as of July 2009 [source: Federal Reserve]

                                                                          ...

                                                                          M1 represents all of the currency in the M0 money supply, plus all of the money held in checking accounts and other checkable accounts, as well as all of the money in travelers' checks. In July 2009, the M1 money supply for U.S. dollars equaled about $1,655.6 billion [source: Federal Reserve].

                                                                          http://money.howstuffworks.com/how-m...-the-world.htm

                                                                          So we are looking at about $700 billion in checking accounts as of two years ago.
                                                                          Vacares - Web Hosting, Domains, O365, Security & More - Paxum and BTC Accepted

                                                                          Windows VPS now available
                                                                          Great for TSS, Nifty Stats, remote work, virtual assistants, etc.
                                                                          Click here for more details.

                                                                            Comment

                                                                            • Lace
                                                                              Too lazy to set a custom title
                                                                              • Mar 2004
                                                                              • 16116
                                                                              #20
                                                                              Originally posted by Sid70
                                                                              Wells Fargo! Go as Far as you can!
                                                                              They were down graded as well.
                                                                              Your Paysite Partner
                                                                              Strength In Numbers!
                                                                              StickyDollars | RadicalCash | KennysPennies | HomegrownCash

                                                                                Comment

                                                                                • fogfever
                                                                                  Confirmed User
                                                                                  • Apr 2007
                                                                                  • 1245
                                                                                  #21
                                                                                  they need interest rates to rise.

                                                                                    Comment

                                                                                    • u-Bob
                                                                                      there's no $$$ in porn
                                                                                      • Jul 2005
                                                                                      • 33063
                                                                                      #22
                                                                                      From a recent blog post by Robert Wenzel:

                                                                                      Here they are. The Financial Stability Board has released a list of 29 banks that it considers global systemically important financial institutions (G-SIFISs) and thus considered Too Big To Fail.

                                                                                      The initial list of G-SIFIS:

                                                                                      * Belgium: Dexia
                                                                                      * China: Bank of China
                                                                                      * France: Banque Populaire, BNP Paribas, Crédit Agricole, Société Générale
                                                                                      * Germany: Commerzbank, Deutsche Bank
                                                                                      * Italy: Unicredit
                                                                                      * Japan: Mitsubishi, Mizuho, Sumitomo Mitsui
                                                                                      * Netherlands: ING
                                                                                      * Spain: Santander
                                                                                      * Sweden: Nordea
                                                                                      * Switzerland: Credit Suisse, UBS
                                                                                      * UK: Barclays, HSBC, Lloyds, Royal Bank of Scotland
                                                                                      * US: Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs, JP Morgan, Morgan Stanley, State Street, Wells Fargo

                                                                                      According to the FSB, Systemically Important Financial Institutions are firms whose disorderly failure, because of their size, complexity and systemic interconnectedness, would cause significant disruption to the wider financial system and economic activity.

                                                                                        Comment

                                                                                        • marlboroack
                                                                                          So Fucking Banned
                                                                                          • Jul 2010
                                                                                          • 9327
                                                                                          #23
                                                                                          BofA will not fall unless we owe money to the wrong people.

                                                                                            Comment

                                                                                            • Zoxxa
                                                                                              Confirmed User
                                                                                              • Feb 2011
                                                                                              • 1026
                                                                                              #24
                                                                                              Originally posted by marlboroack
                                                                                              BofA will not fall unless we owe money to the wrong people.

                                                                                              but then you just go to war with them, simple.
                                                                                              [email protected]
                                                                                              ICQ: 269486444
                                                                                              ZoxEmbedTube - Build unlimited "fake" tubes with this easy 100% unencoded CMS!

                                                                                                Comment

                                                                                                • Dcat
                                                                                                  Confirmed User
                                                                                                  • Aug 2003
                                                                                                  • 1607
                                                                                                  #25
                                                                                                  They will all go under, it's just a matter of in what sequence.

                                                                                                    Comment

                                                                                                    Previous template Next
                                                                                                    Working...