Bank of America's Death Rattle

BAC, has directed troubled financial derivatives from its Merrill Lynch subsidiary to federally insured bank Bank of America making private risk public. (/YT)

BAC is transferring up to 75 TRILLION in bad derivatives to its subsidy, Bank Of America.
notarobotsays...

Print it off for them:

--"Bank of America dumps 75 TRILLION in derivatives on U.S. Taxpayers with federal approvel" /Seeking Alpha

--"William Black: Not With A Bang, But A Whimper: Bank Of America’s Derivatives Death Rattle" /Daily Bail

--And there's some interesting comments over at Bloomberg.com from October 18th.
>> ^Trancecoach:

there's a part of me that just wants to walk into the local Bank of America branches and start showing this to the tellers and bankers who work there....

notarobotsays...

The point is that they don't. They lied about the values of the investments they sold everyone, claiming that the investors have "X thousand(?)" dollars, when the stock or investment is barely worth the ink used to print the bank statement. It's all a complicated way of making stealing money from clients legal.>> ^TheFreak:

But wait.
Explain to me how a private institution could have $75trillion dollars in assets.
I don't get it.

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