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BOA filed $20 Million Condo Foreclosures Case
Bank of America has filed a $20 million condo foreclosures case on developers of a condominium complex in Florida. The case was a result of nonpayment of last year’s property taxes and $22.4 million loan... Liam McGee Hired by Hartford Financial Services, $1.1M Salary
Hartford Financial Services Group Inc. hired former Bank of America executive Liam McGee, who will get $1.1 million in annual salary. He will also get $2.7 million in restricted units and $4.4 million in deferred units. Hartford Financial has been in business for 199 years.... Dalton Chiscolm sues Bank of America for $1784 Billion Trillion
A man sues Bank of America for 1,784 billion, trillion dollars ($17,840,000,000,000,000,000,000) because he said he was given inconsistent information and his checks had been rejected. US District Judge Denny Chin said it was "incomprehensible". He has given Chiscolm until... Bank of America Closing Branches
Bank of America is closing up to 10% of its 6100 branches. BofA, the USA's largest bank, had been expanding for years, taking over smaller consumer banks as well as higher-level investment firms, and is now cutting back its operating costs as more and more customers use...More Seattle Foreclosed New Homes as Developer Miss Payments
Several properties at Conner Homes’ Bentley subdivision became foreclosed new homes after Conner failed to pay his Bank of America loan. Conner Homes is just one among many developers in the U.S. losing their projects to foreclosure. " The number of foreclosed new homes in...Bernanke Defends Merrill Lynch Deal
Ben Bernanke, Chairman of the US Federal Reserve, is answering quesitons in Congress today, defending his role in the Bank of America takeover of Merrill Lynch. BofA CEO Kenneth Lewis claims that Bernanke threatened to have him removed if the takeover deal fell apart, a claim... Wall Street Trader Saves 36 Homes from Foreclosure Listings
Goldman Sachs trader Christopher Meek, who organized a foreclosure counseling event in Stamford, was able to help 36 homeowners save their houses from being added to foreclosure listings. " An idea that came out of the blue during a bar talk among Wall Street traders in... Author's update of "Wasting taxpayer funds" by Arnie Sherr
April 11, 2008
To Ken Lewis, CEO of Bank of America and all other entities that have accepted tax payer funds:
At last April’s (2008) Senate oversight hearing Ken Lewis said, "I get it, and I'll make sure Bank of America get's it!" Mr. Lewis, I am not sure that you... Will Allowing Banks to Fail Reduce Foreclosure Homes?
Allow banks to fail. That is what Republican Senators Richard Shelby of Alabama and John McCain of Arizona suggested even if it means shareholders will also suffer as a consequence. " Allowing some big troubled banks to close and funneling the relief funds to the housing... Bank of America's Virginia Hammerness, Executives are "Idiots"
Granddaughter of Bank of America founder A.P. Giannini, 75-year old Virginia Hammerness, chastised current bank executives as "idiots" and said her grandfather must be "rolling over in his grave" over the way they... Letter to Bank of America CEO, Ken Lewis by Arnie Sherr
February 14, 2009
Ken Lewis, CEOBank of America100 Tryon StreetCharlotte. NC 282202-4000Dear Mr. Lewis:
At last weeks Senate oversight hearing you said, “I get it, and I’ll make sure Bank of America get’s it!” Mr. Lewis, I am not sure that you really do “get... Eight Banks' CEOs Grilled by Congress on TARP Funds
On Feb. 11, the House Financial Services Committee chaired by Representative Barney Frank (D-Mass.) asked eight CEOs who received the Troubled Asset Relief Program (TARP) funds in the fall of 2008, to explain how... Fannie Mae Strikes Deal with Neighborhood Assistance to Stem F...
As the tide of foreclosure continues to wreak havoc to the housing industry, mortgage giant Fannie Mae has decided to bury the hatchet and work with one of its most vocal critics — Neighborhood Assistance Corp of America. " The agreement reached by these two actually... Welcome to the People's Bank of America
Since US taxpayers are now all stakeholders of Bank of America, more so after the the recent $138 Billion Lifeline should it be re-branded as The People's Bank of America? When we run short for the rent or the car payment or whatever, should we just show up at the window of... Bank of America Gets $138 Billion Lifeline for Merrill Losses
Bank of America has received bailout money from the government to fund its acquisition of Merrill Lynch. The government said the move was necessary to prevent the global financial crisis from deepending. " The...
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