Originally Posted by
DAL4EVER
BOA now controls a large part of the financial system with its latest purchase. I guess monopolistic airlines scare the government more than a monopoly with the financial system that drives our economy. Too much power is being put in the hands of too few. Mark my words we will see another economic crisis due to mismanagement and the taxpayers will be on the hook for hundreds of billions to this company some day. Total crock.
You are exactly right...exactly right......especially after listening to Kenneth Lewis....If BOA ever went under they would take the whole ship with it.... The Fed doesn't have enough paper confidence money to bail them out.......... This country put all the power in the hands of such few with the creation of the Federal Reserve Board (private organization) in 1913.... and we gave them even more power in 1933 when we came off the gold standard. Strong regulations, FRB bail outs, and several other factors will contribute when our skyscraper of cards get's blown down in the upcoming economic crisis..... The question is how long can we pretend we're doing ok for? What happens when they reach into the bag and there is nothing there?