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To B Of A CEO Ken Lewis: (Rant)  
User currently offlineAlias1024 From United States of America, joined Oct 2004, 2754 posts, RR: 2
Posted (5 years 7 months 2 weeks 12 hours ago) and read 1543 times:

Let me see if I have understood your statement from today's conference call correctly. You sold your own shareholders down the river in some sort of patriotic act to prevent systemic risk and save the financial markets?

If Bank of America was doing such a great service to America by taking on Merrill Lynch and not walking away from or renegotiating the deal, why did you accept the government terms for TARP money that are absolutely catastrophic to B of A shareholders?

Way to negotiate from a position of power, Ace.  Yeah sure

Rant over.

Anyone else that wants to vent their frustration about corporate stupidity is free to add on to this thread.


It is a mistake to think you can solve any major problems with just potatoes.
5 replies: All unread, jump to last
 
User currently offlineCadet57 From United States of America, joined Jul 2005, 9085 posts, RR: 30
Reply 1, posted (5 years 7 months 2 weeks 11 hours ago) and read 1528 times:

As long as I get my "keep the change" money transferred to my savings every month, im happy  duck   stirthepot 


Doors open, right hand side, next stop is Springfield.
User currently offlineVikkyvik From United States of America, joined Jul 2003, 9937 posts, RR: 26
Reply 2, posted (5 years 7 months 2 weeks 9 hours ago) and read 1495 times:
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Quoting Cadet57 (Reply 1):
As long as I get my "keep the change" money transferred to my savings every month, im happy

Ha, out in your neck of the woods, I bet if you walked down to the bank, you could actually see them doing this: taking some change out of one piggy bank and putting it in another.

Reminds me of the Family Guy where they're in the Witness Protection Program down South, and the ATM is just a guy in a cardboard box.



"Two and a Half Men" was filmed in front of a live ostrich.
User currently offlineUs330 From United States of America, joined Aug 2000, 3871 posts, RR: 14
Reply 3, posted (5 years 7 months 2 weeks 9 hours ago) and read 1489 times:

Alias, look on the bright side. At least he told Fuld to stick it where the sun don't shine when Fuld tried to ask him to bailout Lehman--then B of A would be totally screwed.

Yes...this goes out to all those involved in the mortgage crisis, especially those bankers who packaged the loans into CDOs:

I went to a school that you highly recruit from, I went to many of your firmwide presentations. There was one overarching message: We are looking for the best and the brightest, and we have the best and the brightest.
You are totally full of bullsh*t. Even somebody with no financial background could tell you that making it easier to buy a house than it was to buy a car is just simply screwed up. Yet you not only enabled it, you decided to package these risky loans together, which somehow made the risk of default that much more unlikely, and you profited from them. Yet, when your company's stock price plummeted like a stone, you claimed that you didn't understand the risk. Then you asked Congress for some relief for your minor "oopsies," promising that it would never, ever happen again, and now, you refuse to reveal how you are spending that relief money--the taxpayers money for gosh sakes, some of whom have lost their jobs because of this meltdown caused by your incompetence. Why the eff were you taking the risk if you didn't understand it? How can we taxpayers honestly trust you with our money when you didn't so well the first time around?
Get out of your trader mentality and start looking long term rather than trying to make the quick buck.


User currently offlineAlias1024 From United States of America, joined Oct 2004, 2754 posts, RR: 2
Reply 4, posted (5 years 7 months 2 weeks 8 hours ago) and read 1465 times:



Quoting Us330 (Reply 3):
Alias, look on the bright side. At least he told Fuld to stick it where the sun don't shine when Fuld tried to ask him to bailout Lehman--then B of A would be totally screwed.

I just don't understand how you let the government guilt/bully you into making what you know is a terrible deal that will absolutely crush the people you work for, the shareholders. It just escapes all logic and reasoning.

It's tough to imagine that some sort of class action investor lawsuit won't emerge from this debacle.



It is a mistake to think you can solve any major problems with just potatoes.
User currently offlineLincoln From United States of America, joined Nov 2004, 3887 posts, RR: 8
Reply 5, posted (5 years 7 months 1 week 6 days 18 hours ago) and read 1408 times:



Quoting Cadet57 (Reply 1):
As long as I get my "keep the change" money transferred to my savings every month, im happy

You realize that they aren't doing anything you couldn't do yourself with online banking (or an ATM or a Teller, or over the phone, or...), right?

Actually, maybe someone can explain this to me; I've never understood what the appeal of "Keep the change" is -- I mean, I'm all for saving in a separate account -- I manually sweep ~$500/month from my checking to my savings -- but I just don't get keep the change.

Meanwhile I'm patiently waiting for BofA to open a branch less than 3 hours from where I currently live.

Lincoln



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