Bank of America & More Mis-Dealings…

Now here’s someone we all should buy a drink for…

New York State Attorney General Andrew Cuomo

In case you haven’t heard, Mr. Cuomo has brought havoc to Bank of America due to their unbelievably suspicious merger with Merrill Lynch.

Interestingly large bonuses were paid out to Merrill Lynch employees (ok, more than large…how about 3.6 BILLION!!!) and Bank of America was fined 33 million dollars by the US Securities & Exchange Commission for failing to disclose pertinent information.

33 million?? That’s it? That’s less than 1% of the 3.6 billion dollars that BOA paid top execs at Merrill Lynch! How in the world does BOA continuously get away with things like this?

Well, if Attorney General Cuomo gets his way then hopefully not much longer. BOA now has until Sept 14 to start disclosing some facts or else Cuomo may be pressing criminal charges against top-level BOA executives for illegal activity.

Sound familiar?? Mozilo, the ex-president of Countrywide busted for fraud?

Can you believe that our government not only backs these companies run by criminals (literally!) but also gives them our tax money to continue to screw the common consumer??? They disguise it as TARP money – money supposedly to HELP the American homeowner — not to buy large, underperforming companies with back-alley techniques and behind-the-back hand-greasing payoffs.

There is something inherently wrong here and don’t even get me started on the “The recession is over…” business. We are 12 trillion dollars in debt, unemployment is at 10%, 20% of homes are in foreclosure, and the American dollar is worth about as much as a cup of water is to a sea turtle — but the recession is over??? Do the feds really think that the American public is stupid enough to believe this?

I think President Obama should spend a little less time worrying about the Xbox 360 and a little more time concerned about helping us homeowners.

Related posts:

1. Bank of America offers Stock options?
2. Treasury Department to Help Homeowners with Short Sales
3. Bank of America Short Sales getting worse…again!
4. 67 Million in Fines But No Criminal Charges…
5. Will Bank of America Buy Back 47 Billion???