Yesterday, I went into Bank of America, and closed my accounts, one of which I had held for 29 years ( Read more... )

Lawmaker sees Fannie, Freddie bonus "insult"

When are these fucking jackasses going to get it:
If a company loses money, and has to be bailed out, no bonuses should be paid, period. They're lucky to still have jobs!Retention? So what? These fucking entitled people should just be glad they still have a company to work for. That's their ( Read more... )

Depository Institutions Deregulation and Monetary Control Act of 1980: While this allowed a few better banking services (for higher fees), it is also why savings account interest rates dropped like a rock (from 5% or 0.5%) while credit card rates rose. Where'd the money go? Into shareholders' pockets! The customer got screwed coming and going.

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In the world of common sense, this statement would be obvious: "Too Big To (allow to) Fail" is "Too Big To (allow to) Exist". Otherwise, you are always on the hook for bailouts and concessions to these institutions. Simple, no ( Read more... )

OK. I hate AIG, and all their ilk. I feel they should never have received a single red cent of taxpayer money, and said so last year. But they got a ton of money at the chicken little demands of the Bush administration. Yes, they've received more from the Obama administration, trying to salvage a crap investment of taxpayer funds that was ( Read more... )

When Mr. & Ms. Main Street had problems with unemployment, insolvency, medical costs and debt starting in 2000 and onward, you told your flunkies in Congress "Tough. Let the Market™ Decide". You bade them pass legislation making it harder for individuals to file a clean bankruptcy, and they bowed and did it. You told me "It doesn't matter if you ( Read more... )

Wells Fargo Assails TARP, Calls Stress Test ‘Asinine’ (Update1)

Well, asshole, if you don't need the money, then give it back. You don't like the government conditions, don't stick your fucking snout in the government trough, pig.

These guys have chutzpah. Bailout upon bailout, but they pay "retention bonuses" to the same whackadoodle traders in phony paper (Credit Default Swaps, securitized mortgages) that caused this mess. Then they take the bailout money and pay foreign banks and Golman Sachs (a very politically connected bank, especially with Republicans ( Read more... )

Bernanke defends AIG rescue, says U.S. had no choice.

BULLSHIT!!

AIG must be broken up, and the business units that are rotten must fail. No more sucking at the public teat for this INSURANCE company ( Read more... )