BoA constrictor

Dr. Ribar 'splains the snakiness.

The loss of customers is undoubtedly bad news for BofA and surely must have been anticipated by its management. Nevertheless, the new fee might still improve BofA's bottom line and leave BofA laughing all the way to, well, um, itself.

I am pleased to report that after much feet-dragging, I am now in the "switch" category. I've been with NCNB Nationsbank Bank of America for decades, and I can tell you firsthand, switching is a pain in the butt. I have more than 30 bill payees captured in my online banking account, as well as a host of automatic payments, etc.

For me, it's not about the $5 monthly charge. I would easily qualify for free whatever because of the balances I have at the bank. My motives are purely political. Bank of America has been a bad actor on many fronts and hasn't even come close to making amends. I'm not aware of any apologies to America, to shareholders, to regulators, or to the world for their gluttonous greed and gross mismanagement.

I'm sorry it took me so long to make the switch. It feels good to be in action.


BofA's newest scheme

is worse. They're going to move their toxic assets from the side of the business that is not FDIC insured to the true banking side which IS FDIC insured. As my son explained it to me, they have this flaming box of money on fire in an uninsured house and they are going to move it, flaming away, into the insured house. You (tax payer) are the insurer. Don't have access to the article about it but I will try to remember to link it here when I get home late tonight. [I get to go hear Rob Schofield talk at the Johnston County Dem Women's meeting in Smithfield tonight. YAY!]

Actually, I misspoke

they have ALREADY MOVED their toxic Merrill Lynch assets to their FDIC insured arm. Read it and weep for the lack of decency, repsonsibility, honor and ethics in our banking system:
Bank of America Corp. (BAC), hit by a credit downgrade last month, has moved derivatives from its Merrill Lynch unit to a subsidiary flush with insured deposits, according to people with direct knowledge of the situation.

In otherwords,

Dear Taxpayer,

Thanks for the solid!! You ROCK!

So, umm, you didn't seem to mind bailing us out helping us out last time, so we know you won't mind covering our sorry ass again if we squeeze this lemon too hard and it goes belly up, right? Right. Thanks, again!!

Have a nice day,

The [multi-million-$$$-bonus] Playaz Executives at BofA
P.S. All about da Benjamins, beeotch.

"They took all the trees and put them in a tree museum Then they charged the people a dollar 'n a half just to see 'em. Don't it always seem to go that you don't know what you've got till it's gone? They paved paradise and put up a parking lot."