rumors: Bank of America is collapsing

[G2Rad]

There are rumors out there that Bank of America is collapsing.

If that is true, expect fireworks

http://kingworldnews.com/kingworldnews/Broadcast/Entries/2010/9/24_Chris_Whalen.html

look 4 the mp3

[G2Rad]

another source:

a deep contact informs that Bank of America suffered a death experience on the weekend of July 24th, the same weekend that the London Bullion Market Assn went dark on reported data.

Around the same time the Bank For Intl Settlements was fumbling around with phony stories regarding their 340 ton Gold Swap contract.

The truth is... the BIS bailed out the London metal exchange, on the edge of default, which has suffered repeated gold raids.

They have been forced to defend against a sequence of coordinated raids, all legal, demanding vast gold bullion and obtaining it.

The BIS bailed out not commercial banks, not the Portuguese central bank, but the London metal exchange.

The LBMA is struggling to avoid completely empty inventory. More BIS backdoor supply handoffs will come. Expect the gold raids against London to continue until the corrupt Anglo bankers are plowed under like a weeded lawn laced with rubbish.

http://news.goldseek.com/GoldenJackass/1284667200.php

[G2Rad]

too bad,,, I have credit cards with them

what am I gonna do?

[G2Rad]

http://www.thestreet.com/story/10866102/1/bank-of-america-layoffs-coming-report.html

Bank of America posted second-quarter trading revenue that, according to a Sandler O'Neill report in July, "were well below our already reduced estimates." The 55% sequential decline in investment bank trading revenue compared to declines of 36% at Citigroup(C_) and JPMorgan Chase(BAC), the Sandler report stated.


http://www.americanbanker.com/issues/175_180/why-writedowns-on-second-morts-are-so-scarce-1025740-1.html

In the second quarter the delinquency rate on second liens with combined loan-to-value ratios above 100 was just 6% for B of A, and 5.04% for Wells.

Citigroup's overall delinquency rate was 2.4% in the second quarter and 47% of its second liens were “underwater,” with loan-to-value ratios above 100% in the quarter. JPMorgan Chase did not break out delinquency data on second liens apart from Cavanagh's remarks.

Bank of America, which has $40.6 billion of second liens with loan-to-value ratios above 100%, estimated in its second-quarter report that it would be able to collect 85 cents for every dollar loaned, even if all such loans defaulted.


http://www.bloomberg.com/news/2010-09-13/bofa-may-owe-20-billion-in-mortgage-buybacks-insurers-say.html


Bank of America Corp., the biggest U.S. lender by assets, should repurchase as much as $20 billion in home loans that were based on wrong or missing information


More than half of the soured home-equity credit lines and residential mortgages created from 2005 through 2007 that insurers examined should be bought back, the Association of Financial Guaranty Insurers said in a Sept. 2 letter to Bank of America Chief Executive Officer Brian T. Moynihan. Ambac Financial Group Inc. and Assured Guaranty Ltd. are members, and the group said repurchases may total $10 billion to $20 billion.

[undgrd]

I would wait for confirmation before I do anything. Stock is still up right now...they'd be getting slammed if this was true.

[G2Rad]

Looks like they are being chocked by the good old Countrywide ;)

[General of Darkness]

I made a 250% profit on BofA stock last year over a 3 month period and sold at $12. It might be a little too early to place a put option, but I'm going to starting paying attention to them again.

[uranian]

webbots right again!

(Sorry, couldn't resist)

[chad]

I made a 250% profit on BofA stock last year over a 3 month period and sold at $12. It might be a little too early to place a put option, but I'm going to starting paying attention to them again.


what's your new avatar, i can't make it out? looks like mr. t throwing a tomahawk.

[basplaer]

too bad,,, I have credit cards with them

what am I gonna do?

Hmm, me, too. Maybe its time to fund the cabin at the BOL in the hills...

[G2Rad]

Barnes and noble by the way is bankrupt too

http://www.guardian.co.uk/books/2010/aug/04/barnes-and-noble-for-sale

I will miss them more than BOA

[G2Rad]

life is changing quickly

can't complain about boredom

first KB-toys, then the Electonics chain (forgot the name), now Barnes-and-Noble

I almost bought their Nook

[General of Darkness]

I made a 250% profit on BofA stock last year over a 3 month period and sold at $12. It might be a little too early to place a put option, but I'm going to starting paying attention to them again.


what's your new avatar, i can't make it out? looks like mr. t throwing a tomahawk.


LOL, it's me playing paintball for the World Title with a broken gun and shooting a guy 4 times in the chest and all 4 paintballs bounced, then I got blasted, but we ended up winning.

[G2Rad]

too bad,,, I have credit cards with them

what am I gonna do?

Hmm, me, too. Maybe its time to fund the cabin at the BOL in the hills...


I hate City, so I guess I will have to go with Chase :(

by the way, imagine how many offices BOA has arround the country

[Horn]

Expect the gold raids against London to continue until the corrupt Anglo bankers are plowed under like a weeded lawn laced with rubbish.

Couldn't have said it better myself.

In all the dark clouds out there, a ray of pure golden sunlight pierces the storm.

Good morning all, first post of the day.:sun:

[Horn]

I made a 250% profit on BofA stock last year over a 3 month period and sold at $12. It might be a little too early to place a put option, but I'm going to starting paying attention to them again.


what's your new avatar, i can't make it out? looks like mr. t throwing a tomahawk.


LOL, it's me playing paintball for the World Title with a broken gun and shooting a guy 4 times in the chest and all 4 paintballs bounced, then I got blasted, but we ended up winning.


Did the gun make it thru the tournament?

Hey also, what was the name of that Rebel General that got carried off the field with no leg, and smoking a cigar?

[G2Rad]

another curiosity

China embargos Japan. Japan surrenders (http://gold-silver.us/forum/rare-earths-other-precious-metals/china-blocks-rare-earth-exports-to-japan/)

wow

[General of Darkness]

Did the gun make it thru the tournament?

Hey also, what was the name of that Rebel General that got carried off the field with no leg, and smoking a cigar?


Gun was fixed, but I think the General you're thinking about is General Sickles and he was a Union General.

[the riot act]

too bad,,, I have credit cards with them

what am I gonna do?

Hmm, me, too. Maybe its time to fund the cabin at the BOL in the hills...


I hate City, so I guess I will have to go with Chase :(

by the way, imagine how many offices BOA has arround the country






Isn't there a Credit Union that you can join? Chase is like jumping right into the fire. Yeah they will be the last ones standing.

[gunDriller]

I would wait for confirmation before I do anything. Stock is still up right now...they'd be getting slammed if this was true.


http://finance.yahoo.com/q?s=BAC

yeah ... market cap is about $130 billion today.

[Horn]

Did the gun make it thru the tournament?

Hey also, what was the name of that Rebel General that got carried off the field with no leg, and smoking a cigar?


Gun was fixed, but I think the General you're thinking about is General Sickles and he was a Union General.


Wow, that guy had quite the life.

http://upload.wikimedia.org/wikipedia/commons/c/cd/Sickles_leg.jpg

http://en.wikipedia.org/wiki/Daniel_Sickles

I think, I'm going to call you General Sickles from now on. ;D

[Silver Rocket Bitches!]

Bank of America collapsed in 2008 and was put on life support using TARP funds. They have literally been insolvent along with the other top banks.

One of them will have to be sacrificed. Maybe BAC?


http://www.marketoracle.co.uk/images/2009/Mar/banks-overexposed.gif

[po14015]

One of them will have to be sacrificed. Maybe BAC?


http://www.marketoracle.co.uk/images/2009/Mar/banks-overexposed.gif


My guess is Citi....

[Korbin Dallas]

I effing hate B of A worse than I hate the rest of the lot of corrupt banks. I do all of my business through a credit union. I think B of A is most vulnerable to become the sacrificial lamb, Goldmun Sucks will be untouched, since it is Turbo Tax Timmy's pet.

[G2Rad]

the audio in the OP is very informative

[Silver Rocket Bitches!]

One of them will have to be sacrificed. Maybe BAC?


http://www.marketoracle.co.uk/images/2009/Mar/banks-overexposed.gif


My guess is Citi....



Sure as hell won't be GS!

[G2Rad]

now we know that the rumors in the OP turned out to be true

here is an interesting video
http://www.ustream.tv/recorded/10034228#utm_campaigne=synclickback

wait 1 minute to start,

then scroll to 1 hour and 8 minutes

[Cebu_4_2]

complete joke, BOA owns nothing, no assets, how can it collapse? Fucking joke of jokes.

[G2Rad]

complete joke, BOA owns nothing, no assets, how can it collapse? f*cking joke of jokes.


BOA still has to pay all these salaries to the stuff

BOA still has to upkeep all those offices and branches

the problem is that BOA ain't making any money because of the FED

watch the video, the dude explains it very well

[jaybone]

They could save a few bucks a year by NOT sending me the same stupid junk mail every month.
They can stick their balance transfer checks up the wazoo becauase I have no balance to transfer.

[chad]

they deserve to go broke for how stupid they are. my wie and i get at least 2 credit card offers a week from them. constantly.

i always take out the application sheets, write nasty notes to them, astuff them in the return envelope, and mail them back.

they just keep sending them. no joke, i have probably sent at least 100 of them back since i started doing it. youd think they'd take me off the mailing list.

[Neuro]

they deserve to go broke for how stupid they are. my wie and i get at least 2 credit card offers a week from them. constantly.

i always take out the application sheets, write nasty notes to them, astuff them in the return envelope, and mail them back.

they just keep sending them. no joke, i have probably sent at least 100 of them back since i started doing it. youd think they'd take me off the mailing list.
Probably the head of promotional letters has his bonus based on the number of returns, not the quality of returns... You have helped him sending his kids to college... ;D

[woodman]

they deserve to go broke for how stupid they are. my wie and i get at least 2 credit card offers a week from them. constantly.

i always take out the application sheets, write nasty notes to them, astuff them in the return envelope, and mail them back.

they just keep sending them. no joke, i have probably sent at least 100 of them back since i started doing it. youd think they'd take me off the mailing list.


Here's what you do to stop them. Take a competing banks offer and switch envelopes. Send both out with competitors application, blank of course. Problem solved.

[Ash_Williams]

Ask them to send more mail to you and find a buyer for scrap paper.
I hear it goes for a few hundred a ton. I get that in a week.

[G2Rad]

here is 101 of Foreclosure Fraud:

http://rortybomb.wordpress.com/2010/10/08/foreclosure-fraud-for-dummies-1-the-chains-and-the-stakes/

http://rortybomb.wordpress.com/2010/10/11/foreclosure-fraud-for-dummies-2-what-is-a-note-and-why-is-it-so-important/

http://rortybomb.wordpress.com/2010/10/11/foreclosure-fraud-for-dummies-3-why-are-servicers-so-bad-at-their-job/

http://rortybomb.wordpress.com/2010/10/11/foreclosure-fraud-for-dummies-4-how-could-this-explode-into-a-systemic-crisis/