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Who lies to YOU More - the Media or the WallStreet Bankers?

Updated on January 26, 2014

Is the Public Really Buying this Lame Excuse so Bank of America Executives can Pay Themselves Bonuses?

Posted on Yahoo today?

"Bof A repays $45B in government bailout funds"

The Truth? The money has not been repaid, but an agreement has been reached to repay the money. No mention of interest on the money. Don’t loans come with an attached interest rate?

Bank of America, which announced its agreement with the U.S. Treasury to repay TARP last week, funded the repayment through a combination of cash on hand and the sale of $19.29 billion of securities that would convert into common stock. The stock increase remains subject to shareholder approval.

If it’s subject to shareholder approval then the money has not yet been repaid! And how are they repaying it… through profits due to good banking practices? NO! By creating money from nothing buy printing stock certificates. Who is going to buy the stock? I’m sure shareholders will be pleased when their holdings are diluted.

Why is Bank of America in a Rush to Repay – It’s Corporate Bonus Time!

Repayment of the funds frees the Charlotte, N.C.-based bank from the government restrictions that have hampered its search for a new CEO, including executive pay limitations.

Treasury said that with Bank of America's $45 billion repayment, the total amount of repaid TARP funds is now $116 billion. That's out of a total of $453 billion that the government has extended to banks, insurers, automakers and other companies under the program.

What no one is talking about is how Bailout Money is shifted from one financial institution to the next through acquisition. So what 20% has been paid back? From what?

Watch Bank of America Stock Plummet now. Greedy Bastards running these companies are going to get their Bonuses come hell or high water.

Greedy Bank of America Executives to Get their Bonuses

There is no end to the corruption and paper shuffling in Bank of America so that their Executives can Cash in.
There is no end to the corruption and paper shuffling in Bank of America so that their Executives can Cash in.

Comments

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  • MikeNV profile imageAUTHOR

    MikeNV 

    9 years ago from Henderson, NV

    It's a total scam with a Media PR Spin. Bankers control the Media. Most people are so clueless to what is going on. They will read only the Headline and think all is well.

    All that happened is BofA Borrowed more money under a different Government Plan so their executives could Cash in on Year End Bonuses they didn't earn.

    All you have to do is look at the share price and examine their balance sheet to see that BofA has done nothing this year to warrant paying bonuses.

    Tax Payers are getting screwed again.

    But when you think about it - if people are so stupid and uneducated and apparently apathetic to the real issues then they get what is coming to them.

    TARP is now nothing more than a Democrat Run "Slush Fund" so they can further the backend payoffs to Wall Street.

    Wall Street did nothing to dig us out of the Great Depression. Back then Americans Built things. Now there is this Media Spin that the United States will somehow become the Worlds Bank and all is well because we don't need real jobs, all we need is paper shuffling on Wall Street.

  • theguru-reports profile image

    theguru-reports 

    9 years ago from Montana

    Here's another place to confirm your story. It spells it out in great detail how B of A screws the taxpayers--again. http://www.businessinsider.com/henry-blodget-now-l...

  • theguru-reports profile image

    theguru-reports 

    9 years ago from Montana

    Manipulation at its finest. Way to keep blowing the whistle Mike

  • grillrepair profile image

    grillrepair 

    9 years ago from florida

    Hopefully they'll all still be there at the helm when the diluted stock ruins value and stock holders start a witch hunt to find out who's responsible -- of course this is a fantasy, they will be off to the next with a brilliant resume.

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