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Have you heard the latest?
B of A bought Merrill Lynch in 2009. Merrill Lynch came with many toxic assets on it's balance sheet. How do they deal with that?
They just transfered those toxic assets to Bank of America because under that umbrella those toxic assets are covered by FDIC deposit insurance. That means the federal government (the taxpayers) will be on the hook for the failing securities. They have no shame.
Bank of America derivatives transfer is criticized by Democrats in Congress - Sacramento Living - Sacramento Food and Wine, Home, Health | Sacramento Bee
Will we ever again be protected from the sharks? Not when our elected representatives gain their wealth from donations and jobs that come from the very businesses they are tasked with regulating. REPUBLIC LOST. Trickle up.
B of A bought Merrill Lynch in 2009. Merrill Lynch came with many toxic assets on it's balance sheet. How do they deal with that?
They just transfered those toxic assets to Bank of America because under that umbrella those toxic assets are covered by FDIC deposit insurance. That means the federal government (the taxpayers) will be on the hook for the failing securities. They have no shame.
Bank of America derivatives transfer is criticized by Democrats in Congress - Sacramento Living - Sacramento Food and Wine, Home, Health | Sacramento Bee
Will we ever again be protected from the sharks? Not when our elected representatives gain their wealth from donations and jobs that come from the very businesses they are tasked with regulating. REPUBLIC LOST. Trickle up.
