Monday, August 8, 2011
What's Dragging Bank of America Down - Business - The Atlantic Wire
What's Dragging Bank of America Down - Business - The Atlantic Wire: "stock markets as a whole are getting absolutely bludgeoned. But the market gods have reserved a special kind of wrath for the country's largest bank. As the Dow dips 500 points, Bank of America is down around 18 percent. You know what else happened today? Insurance giant American International Group sued the bank for $10 billion, accusing it of selling overvalued mortgage-backed securities."
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Of course, you artificially keep these financial institutions alive and they keep blaming some other corporate giant. Its never a few morons doing the wrong thing!
ReplyDeleteInstead of accusing another corporate entity of: "selling overvalued mortgage-backed securities" why not do the research and don't buy them!
In the meantime some poor Joe with some great idea and a dream can not borrow a dime at a reasonable rate because the paper and the pencil must be pushed in certain way! Ha!