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Bank of America: Too Crooked to Fail

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Bank of America: Too Crooked to Fail Empty Bank of America: Too Crooked to Fail

Post by sraney on Mon Mar 26, 2012 11:12 am

I'm sure everybody is or should be familiar with the tale of the gangsters by now, but this article is a classic.. After you read this, I'm sure you'll agree that Congress should solve the healthcare crisis by immediately allowing health insurance companies to "compete" across state lines too - the "free" market will then naturally reduce the cost, right? This article has created quite a stir with many still supporting the banksters, but in my mind there's very little time remaining to capture the criminals responsible for this massive fraud. Our legal system is so pathetic that the litigation is ultimately enriching the very lawfirms and attorneys who designed the scam, as was true in the earlier Savings and Loan heist when at least a few were thrown in the slammer.

http://www.rollingstone.com/politics/news/bank-of-america-too-crooked-to-fail-20120314

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Post by TR11005 on Mon Mar 26, 2012 11:03 pm

Insurance companies need to be state regulated. Bank of America should have never been allowed to buy banks in different states.

Excellent article, a must read. BOA is a large dinosaur. It is "UnDead." If it is was allowed to die then the banksters would have a more difficult time collect more bonuses from their bailouts. Boycott BOA and put your money in local bank or stable bank.

I had an experience with BOA with illegally ruining my credit. By Federal law the problem is to be taken care of within 30 days. This also had to do with refinancing a mortgage last fall. If things did not be solved in short time, I would lose my money to redo the loan to another bank. My original loan was not with BOA. They continue to give me problems. They told me there policy was 90 days. I told them I don't care about there policy, your messing up my refinancing and you alreaday had 30 days. I read them the riot act! I have a credit check when someones does something. BOA fixed it that same day. Don't buy their phoney 90 day policy and we can do what we want. My new bank was about to press charges against them if needed.

Let those greedy dicks die. I want all the BOA executives to be hung in front of the BULL on Wall Street. We are the 99%!

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Post by sraney on Tue Mar 27, 2012 10:37 am

Insurance companies need to be state regulated.

Sorrowfully they already are, although just like antitrust and other regulatory legislation, nothing is enforced. Remember the Sherman Antitrust Act was intended to break the Rockefeller monopoly (Standard Oil) that is today's ExxonMobil. My comment about insurance companies was intentional tongue-in-cheek, referring to the right's idea for reforming healthcare - ever hear of AETNA, Blue Cross, etc.,

One of the provisions in the Affordable Healthcare Act curbs cost by requiring providers to use 75% of our premiums on healthcare leaving them only 25% for gambling. Now can you understand why insurance costs began to soar after the bill passed? Unfortunately, this deal was made in lieu of a public option which would have crucified them. Don't know about you, but I'd choose the public option any day. It's a myth that the gov't doesn't provide good service - unless it's a service that's been outsourced to a for profit with no oversight and a cost plus contract. This is why these bloodsuckers spend so much on lobbyists in order to get these give-away gov't contracts.

Some of us already know about the lack of accountability surrounding the portions of the postal service that have been privatized - sorting and mail carriers in some regions. You just have to look at other countries to see how expensive privatized services will be - especially when UPS and FedEx won't have any competition! Would you trudge through the snow and inclement weather to deliver mail when you're earning minimum wage with no benefits or toss it in the trash? For profit businesses must always be concerned about their bottom line so services, payroll and maintenance are the lowest hanging fruit.

"Customer service" is really an oxymoron in the insurance industry. Instead of providing a service that helps us get care, we speak to representatives that inform us we aren't covered. We should get rid of for-profit health insurance altogether as most health practitioners agree - it's immoral to profit off disease. If I work for a company that offers a legitimate plan I live, if you work for one that carries a junk policy as most do, you die or file for bankruptcy and forfeit your life savings. Another provision of "Obamacare" helps to eliminate junk policies - this is real - there was a limited benefit (the "budget" plan) option on my employer's group health coverage with an asterisk indicating it would not be available after 2014... Frankly, all insurance companies, who currently operate like investment banks, should be scuttled. Canada has been trying to do this - I'm not saying, eliminate insurance, but the enormous profits they generate only serve investors - offering mostly pathetic jobs - the banks should be nationalized too Smile These people are parasites in my view. Let's start doing work that matters - most of what we do today trumps life for profit with the really important or even creative endeavors left to a voluntary workforce. Democracy for the few is not what our Constitution mandated.
http://www.naic.org/state_web_map.htm

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Post by TR11005 on Tue Mar 27, 2012 12:28 pm

Amen,

Health insurance is state regulated. The problem is like you are saying. There should be no large profit when it comes to a person's health. Nobody should lose their home or life savings due to a major problem. We need to be more preventitive not after the damage is done.

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