| Tell President Obama to Break Up Bank of America! |
|
| SIGN THE PETITION |
Something reeks at Bank of America. This behemoth bank has assets equivalent to 15% of our entire economy. So why are its shares trading in the $5 range? Because BofA is a zombie bank. And now this zombie is trying to move $22 trillion in dangerous derivatives from one division into its FDIC-insured division. Tell President Obama, no more bailouts! Break up Bank of America before it breaks us.Headlines
Bankster Blog
Some will rob you with a six-gun;
And some with a fountain pen.
Stress Testing Tim Geithner
Submitted by Mary Bottari on January 26, 2012 - 11:47Thanks to Occupy Wall Street, in the State of the Union this week President Obama struck some of his most populist themes yet. He wants to tax millionaires, bring back manufacturing and prosecute the big banks. He touted his Wall Street reforms saying the big banks are “no longer allowed to make risky bets with customers deposits” and “the rest of us aren’t bailing you out ever again.”
But are we safe from the next big bank bailout?
Scott Walker’s Plutonomy: An Economy for the One Percent
Submitted by Mary Bottari on January 24, 2012 - 09:18While volunteer after volunteer from each of Wisconsin's 72 counties marched into the state's election board to deposit over one million signatures for the recall of Wisconsin Governor Scott Walker, Walker was no where to be found.
At the hour petitions were being deposited on January 17, Mother Jones revealed that Walker was scheduled to attend a high-dollar fundraiser in the heart of the New York's financial district at 339 Park Avenue -- the towering headquarters for global financial giant CitiGroup. The $5,000 per couple fundraiser was hosted by none other than Maurice "Hank" Greenberg, former CEO of AIG.
Walker's choice to be on Wall Street the day of the recall filing is so astounding, for many it goes far beyond the notion of a tin ear. "Walker could not have sent a clearer signal to Wall Street, that he is on the side of the 1 percent ready to do their bidding and take the heat," said Scot Ross of the Wisconsin group, One Wisconsin Now. Ross points to the data his group compiled to support his claim that Walker is constructing an economy that only the 1 percent could love.
Break Up Bank of America Before it Breaks Us
Submitted by Mary Bottari on December 21, 2011 - 09:47On Monday, Bank of America (BofA) stocks briefly traded for under $5. Yes, you could buy a share of BofA for less than the noxious debit card fee they tried to force down your throat.
BofA is massive, with assets equivalent to 15 percent of U.S. GDP. So why is it trading for the price of a latte?
Because Wall Street’s dirty little secret is that BofA is a zombie bank. Now the reek is getting too strong to ignore.
The Most Dangerous Bank In America?
Spinning the Occupation
Submitted by Mary Bottari on December 20, 2011 - 10:16Guest post by CMD's Anne Landman
As winter sets in and Occupy Wall Street (OWS) encampments contract, the three month old movement continues to have a big impact on the campaign trail. President Obama as well as some GOP candidates have adopted OWS concerns and language, while big bank lobbyists and GOP spinmeisters work hard to hold the line, defending U.S. economic institutions and the American "free market" system against what they fear could be a broad-based populist uprising.
Follow Us
