Today's Outrage: Bank of America's Secret Backroom Bailout

Henry, your shorts are showing

Remember the "transparency" promised on the bailout. Secret closed door sessions, backroom policy. Anyone surprised. How long will Americans accept this. Thing's won't be any different with Obama either. Feed themselves first, give the scraps to the taxpayer. Anyone in the mood for a revolution??

HAHAHAHA, people are buying thinking Congress will save them again...here we go again.

"Taxpayers should be furious." We are, but to whom do we turn to right this mess? Nobody with any apparent credibility foresaw the crisis. Our "managed account" stock broker/financial managers "managed" to lose 40% of your investments in two months. Who is going to fix it?

More and more desception. Ron Paul's makes more sense every day doesn't he?

BOA was like a little kid.. they ate more pie than they could handle. Now they still want more pie. This is the Gov. picking winners and losers. We have to take our medicine let one of them fail. WHY IS IT NOW that BOA knows what was going on and did not know what was going on 60 Days ago. THIS IS JUST MORE UNFAIR GREED. Notice how this is being timed. BOA NEEDS MORE MONEY THE DAY CONGRESS VOTES TO RELEASE MORE MONEY. THIS IS THE LITTLE KID SEEING MORE PIE EVEN THOU ITS GUT IS FULL.

Makes me wish I was living in China where Ken Lewis would join Madoff and the other greedy candidates for the "9mm solution" !!

I don't buy the argument. Based on what was being heard through the grapevine when this whole deal was going down last year, Paulson dragged BAC and Lewis kicking and screaming into this deal. I don't believe a guy like Lewis and his team were so naive as to overvalue Merrill Lynch by as much as they did. And based on the press of recent days wherein the Merrill staff is leaving left and right because they don't want to adhere to the regulations imposed by the banking industry, I'd say this is all sour grapes written by someone speaking for the Wall Street invetment community. There is one part of the article that I agree with, it's that the American taxpayer gets the long end of the shaft again. We are heading to a brand of socialism that makes those in my generation cry. All of these businesses should have been left to collapse!

It's gotten where you can't trust any of these rat-bstds. They are nothing but a bunch of lye'n, cheat'n, greedy, all about me pr--ks. They could care less about the country or main street....RB's...all of them.

BOA needs to be Natioalized and broken up. We can not reward these Greedy CEO'S or elected officals that will allow the fundmental fairness of our country to be erroded. I think it was Jeffereson that said we need our guns to protect us from our Government. This keeps up and you will see protest like in Iraq where the protesters are carring guns and shooting them in the air.

Henry is really making it hard for me to keep comming back to tech ticker. I couldn't find the video, but I am pretty sure it was he that said BAC was unofficially asked to buy Countrywide, and Merrill, because at the time BAC along with JPM and WFC were the only viable institutions to take on their bad assets. And now it is all of sudden "outrageous". Maybe it is outrageous because our government said they would buy the bad assets or move them off the books, or change an accounting rule, which has not happened, and now Mr. Lewis doesn't want to deal with this with no governement help. If anything what BAC has learned as that being helpful is not profitable. They should have let Countrywide and Merrill go bust. Then these pseduo finance(media) hacks would have to find something else to enrage taxpayers, the government is always a good start, and in this case a great place to finish.

http://www.lewrockwell.com/rozeff/rozeff257.html

Nothing new here. These shady backroom deals go on every day. Back to work sheepie. The govermnemt is taking care of everything.

BASIC Economy 101. The problem is that America CANNOT compete with countries like CHINA who can make PRODUCTS and SERVICES at a **(CHEAPER COST)** than the rest of the WORLD. That is the PROBLEM in a nutshell! Common sense will tell you, if YOU are shopping for something, and 2 places are selling it, but one store sells the same PRODUCT or SERVICE at a LOWER cost than the other store...of course you will buy it from the store that has the CHEAPER price. It is NO different in the way COUNTRIES and the world, BUY and SELL PRODUCTS and SERVICES with each other. This is why AMERICA cannot compete with a country like CHINA that can MAKE PRODUCTS at a much LOWER COST than America because CHINA's standard of living is MUCH lower than America's standard of living. CHINA pays their workers only PENNIES on the dollar compared to American workers. So until America can either make the SAME product or service CHEAPER than CHINA. Or America has to create PRODUCTS and SERVICES that are (NEW), and products and services that **(CANNOT be produced or DUPLICATED ANY WHERE ELSE)**! Until then, COUNTRIES and people will ALWAYS buy from the countries that sell the products or services at the CHEAPER price. After WWII America was the only Major power who didn't have their FACTORIES destroyed in the war. So after World War 2 America became the ONLY major MANUFACTURER of the **(WORLD)**. That is why America became so GREAT after WWII. Because America had basically NO COMPETITION.

Bush gives us Back Room Dealing Cronies Obama gives us Tax Frauds Bush gives us "No Child Left Behind" Obama brings us a Education Secretary who couldn't be legally hired to teach in any school district in the Union. Why don't we start storming Congress and put some of these crooks heads on a pike and see if maybe they get the point?

They do this because no one has the guts to stand up to them. I say "let them drown in the sewer mess they created." In a free market economy some other company will step in a fill the void.

And these are the Banks that are supposed to be taking care of helping people stay in their homes and make new home loans. We are all in bigger trouble than we can see. More homes are being lost thus the losses are going to mount, unemployment is going up, so even more houses are going to be lost to the banks. WHY DID BOA NOT TELL CONGRESS THAT THIS PROMISE OF FUNDS WAS MADE TO THEM IF THEY GOT IN TROUBLE. I remember them saying they did not need the money less than 60 days ago.

All I see is Wall Vegas is hoping that everything gets a bailout ! Even we the PUBLIC keep saying NO MORE BAILOUTS!!!

JPM got the same deal with Bear Sterns

Kill the bills