Bail out Bank of America

[bkniefel]

Yesterday at midnight, Bank of America announced it had finalized a $20 billion infusion of federal cash, largely to cover expected losses from the Charlotte-based bank's takeover of floundering Merrill Lynch.

What is funny about this is that if you are not aware, Wells Fargo has merged with Wachovia. Wachovia being based in Charlotte..

[eejit101]

Whats funy for me is i have no idea who or what your really on about!

[bkniefel]

Whats funy for me is i have no idea who or what your really on about!

What? I don't understand your comment.

[eejit101]

As a british person, all i know is that charlotte have the hornets ad is in Virginia....

Who is merryl lych and why do people need $20bil?

[bkniefel]

As a british person, all i know is that charlotte have the hornets ad is in Virginia....

Who is merryl lych and why do people need $20bil?

They are a financial company in the states. That's a good question. Why does ford need billions to save the company but then created new commercials. Now, they think they're still going to loose the company after we gave them 4 billion. The tax payers are paying for these expenses.

[allinking17]

Ahh wow, this is really not looking good to reverse this downwartd trend in our economy

[eejit101]

ITs all "fake" money anyway.

There isnt actually $20billion in real cash. Just delete a 0 on a computer screen ffs

[bkniefel]

ITs all "fake" money anyway.

There isnt actually $20billion in real cash. Just delete a 0 on a computer screen ffs

Companies transfer funds online. Billions are transferred on a daily basis. The government watches over this in colorado.

[USCTrojans]

ITs all "fake" money anyway.

There isnt actually $20billion in real cash. Just delete a 0 on a computer screen ffs

hmmmm eejit...hmmmmthese companies are being handed goverment cash, its not just "deleting company debts".....far more complicated than how you put it LOL

[bkniefel]

Sketch right?! Where did this money go, or why is it such a big deal right now if it was borrowed?

[USCTrojans]

Sketch right?! Where did this money go, or why is it such a big deal right now if it was borrowed?

Its a problem with the mortgages, people cant pay their mortgages to the banks, so the banks arent making enough money till they go broke, its as simple as that how it all started, people getting HUGE mortgages that they could barely afford, a big company goes down, the whole economy shakes and people run out of cash to pay, banks run out of cash to LEND!

[eejit101]

Screw it, communism FTW