- The Fed has just allowed Bank of America to put up to $75 trillion into a bank that is FDIC insured, officially making the tax payer responsible for BoA's toxic derivatives...again. http://www.bloomberg.com/news/2011-10-18/bofa-said-to-split-regulators-over-moving-merrill-derivatives-to-bank-unit.html 455 comments politics
- Bloomberg News: "Bank of America...hit by a credit downgrade last month, has moved derivatives from its Merrill Lynch unit to a subsidiary flush with insured deposits...The Federal Reserve and [FDIC] disagree over the transfers, which are being requested by [BofA] counterparties..." http://www.bloomberg.com/news/2011-10-18/bofa-said-to-split-regulators-over-moving-merrill-derivatives-to-bank-unit.html 11 comments politics
Linking pages
- Bank Of America Dumps $75 Trillion In Derivatives On U.S. Taxpayers With Federal Approval (NYSE:BAC) | Seeking Alpha http://seekingalpha.com/article/301260-bank-of-america-dumps-75-trillion-in-derivatives-on-u-s-taxpayers-with-federal-approval 15 comments
- 3 Years After Taxpayer Bailout, Bank of America Ships Jobs Overseas – Mother Jones http://www.motherjones.com/politics/2012/05/bank-of-america-outsourcing-call-center-philippines 9 comments
- Article: Have Two Dying Banks Managed To Trick Us Into Paying For Their Next Bailout? | OpEd News http://www.opednews.com/articles/has-the-dying-bank-of-amer-by-richard-clark-111025-628.html 4 comments
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