On 20 Oct 2014
Where Do You Peasants Bank? Credit Unions? Hahaha,
Robber Baron Elite Scum said:
if you bank with Bank of America. Just to be on the safe side you may want to avoid that bank
You are on top of your stuff.
There is actually a Harvard Economist who is warning people about Bank of America. This is relatively recent as well. (2014).
This particular Economist pulled $1 million out of Bank of America.
Bank of America in my humble opinion is a terrible bank from a safety and risk point of view. It is managed extremely incompetently, underperforming, inefficient and not up to par AT ALL with their competitors.
I strongly believe J.P. Morgan will acquire Bank of America.
Their stock price is a joke at $15 dollars and they vast majority of it's shareholders have gotten taken for a ride.
Bank of America is just a parasitical entity that has no loyalty to the customers, neither even the shareholders nor even to it's own long-term well being.
J.P. Morgan is a horrible ruthless bank but at least they have their financials together despite even being fined and sued countless times with big monetary penalties. They can afford it... It is chump change for them.
J.P. Morgan bought Washington Mutual in the crisis of 2008 because not only they themselves had their own business together but they were more than capable to handle another bank's liabilities. Their stock price recovered strongly as well.
But Bank of America? They are not run by financiers. They are run by incompetent arrogant worthless clowns.
It's liabilities are far far greater than it's assets, it's revenue is suffering despite looking like it's increasing. It's not. They are merely starting to cut costs left and right. So profits look like they are higher and therefore they seem to be doing better but they are in reality in big hot water trouble.
They are closing up to 2,000 branches. But NOT just closing the branches but fucking SELLING them to other small banks in the area.
That reeks of desperation and being hard up for cash.
And this is recent as well as of 2014. They are the number one bank also laying off the most employees as well.
Their brand name is also limited to the US. They are not a global bank like Citibank and Chase. "Bank of America"... Try opening up shop with that name in Italy.
Doesn't fit with the region or have it's local people connect to that name.
Funny that it used to be called "Bank of Italy" and was started by an Italian immigrant from humble backgrounds only to mutate into a arrogant cancerous piece of shit bank.
Despite the bail out loan, they are ready to collapse because they didn't change they way they operate, manage, make revenue, improve customer service, price their bank account fee more reasonably nor have much more conservative investment banking nor understand the greater liabilities in acquiring Merrill Lynch.
"Doing the same thing over and over but expecting a different result each time is the definition of insanity."
They amount of lawsuits BOA and Merrill have had over discrimination is enormous. Their work culture is terrible.
When I was a kid (this is decades ago).. My mother used to actually work for BOA and was fired by the Manager after she was framed for mishandling $8K. (It was locked in the wrong safe.)
I remember going barely going without food for 3 months until she found another job as a teller at another small local bank.
Really shitty bank and I'd never forget these assholes for what they did. I can't believe I later banked with them as an adult for the convenience of many ATMs and branches despite the awful memories of them as a child.
I did use them mostly for business transactions and business use.
I pray and hope BOA dies a slow and painful death in bankruptcy. I can't wait to be entertained by their collapse as I watch and eat popcorn and drink a nice wine to celebrate their death.
J.P. Morgan are a bunch of fucking assholes too and they also are not very fair to their customers but at least they are able to manage to produce better for their shareholders than BOA and also be VERY strong financially (despite all the money paid for fines and lawsuits) to manage well above beyond their own liabilities but also that of other banks.
They have acquired the most banks and done the most acquisitions.
J.P. Morgan are ruthless assholes, unethical, greedy and corrupt but at least they can manage not collapse into a steaming pile of shit while they commit white collar crime globally.
So you do have to give them respect for that at least.
I can't say the same for Bank of Asswipes. They are an epic fucking failure.
How the fuck do you make a $4 BILLION dollar accounting error?
ONLY at Bank of Asswipes can such a moronic mistake happen.
As I said before they are not competent professional financiers like J.P. Morgan.
Bank of Asswipes are a bunch of arrogant incompetent worthless fucking clowns including their CEO, that fucking pansy piece of shit.
Warren Buffet is a major stockholder in BOA and goes around trolling how wonderful BOA is...
Understand that he knows the stock market is mostly all just emotionally driven.
He is bluffing a bad hand is what I mean to say. He is shilling and will have sold out long before SHTF...
Never trust what Warren Buffet says publically. He is a fucking shill and wants to misguide the sheep investor.
Just watch what he does. Moreover, his company Berkshire Hathaway commits fraud on a daily basis.
He is NOT a "humble modest down-to-earth nice kind generous jesus-like" billionaire... That's also semantically an oxymoron.
That's just a veneer he puts out to idiot masses.
"Tax the rich more" he says... Who he really means is by "rich" is upper middle class not true elite wealthy aristocrats and the taxes will go to the private Federal Reserve bank with whom the elite owners he is friends with.
Here is a picture of Warren Buffet with Jacob Rothschild....
BOA will collapse guaranteed. It's only a matter of when not if. It's close though in my opinion.