(ThinkProgress) – Had Congress had such information, members of both parties would have changed their votes to favor Wall Street reform, … knowledge of the loans could have led to a push to reinstate the Glass-Steagall Act.
The secret nature of the loans, however, instead helped Wall Street work to “preserve a broken status quo” that allowed its biggest banks to grow even larger than they were before the crisis. The nation’s largest banks have turned more in profit in the last 30 months than they did in nearly eight years preceding the crisis, all while spending millions to derail significant reform legislation. And since the Dodd-Frank Act became law, they have spent millions more to weaken its rules and prevent certain regulations from taking effect. Bank lobbying, in fact, is now on pace to reach a record high this year.
It should be no surprise that BoA leads the way in foreclosing on military families. They absorbed CountryWide Mortgage Company in 2009 in an effort to grow larger. CountryWide was by that time as much a criminal organization as News Corp is today.
I didn’t know where BoA got their evil nature, but I got my mortgage from CountryWide in 1999 and I can attest to their evil nature. Like attracts like apparently.
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"But I will not let myself be reduced to silence."But Geov, sixty or seventy years ago, they used to lend to small businesses.
One lesson that should be clear from the Great Recession. Big banks do NOT lend to small businesses. They only deal with big financial institutions.
They only deal with big business now.
That’s why BoA has to make ads about loans it made in the 1940s.
Didn’t Jimmy Stewart make a movie about that?
It should be no surprise that BoA leads the way in foreclosing on military families. They absorbed CountryWide Mortgage Company in 2009 in an effort to grow larger. CountryWide was by that time as much a criminal organization as News Corp is today.
If you’ve lived in CA, back in the days when BofA was confined to CA, you’d know this simple fact:
BofA is EVIL.
No, they didn’t learn it from Countrywide, BofA was evil to begin with, continued being evil, and will be evil in future.
Lawsuits? Nah. Best to nuke them from orbit, just to be sure.
I didn’t know where BoA got their evil nature, but I got my mortgage from CountryWide in 1999 and I can attest to their evil nature. Like attracts like apparently.