Hate to break this to anyone unaware of it, but if anyone thinks that we are going to resolve the banking problem in this country by going after one or more established banks at a time, you've got another think coming.
By all reports and opinions I've heard on the subject by "expert analysts" BOA should have been declared bankrupt and seized and foreclosed upon by the US government rather than included in the taxpayer bail out. So too, JP Morgan and possibly Sachs/Goldman.
They weren't but America was thrown the bones of Lehman and Bear Stearns as sacrificial lambs instead.
BOA came up golden and nothing is going to bring down the same banks that are providing buoyancy to BOA or the industry as it stands (with their hands out) today.
It's lose-lose for the American borrower and taxpayer.
These guys (banks) think nothing of biting the hands that feed it.
We're on our own, no matter how many stories like this come out to make it appear otherwise.
Read the Article at HuffingtonPost
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