BOA sux, so do you agree we should nationalize this dinosaur of bail it out?
Bailouts are just crazy. Bank of America is a corrupt loser and it is cheaper and far less wasteful to fire Lewis and his cohorts and take it over. Do you actually understand what this means? Let Bank of America become a national bank with a board that includes people like Ron Paul. Let Americans elect the board of this huge bank. Maybe S&Ls had it right before the damn banking deregulation. Home loans should be keep separate from regular banking, and they figured that out long ago. Too much temptation to max profits and pay management too much. Keep it simple, stupid! It was a diasterous experiment. Never again.
We’ve seen how this plays out before. Japan went through all this 10 or so years ago. Banks were stuck with lots of non-performing loans. The gov’t helped out the banks, and Japan had a stagnant economy for many years.
Banks here need to be allowed to fail. Good operations and assets can be sold off or restructured. Bad assets should be sold off for whatever they are worth. The government should insure the deposits as provided by the FDIC.
We have a choice to make. Swallow the bitter medicine now, or stay sick and keep giving failing banks more and more money to stay afloat.
Bank of America is Deceptive!!