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Bank of America: Too Crooked to Fail

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  • Fri, Mar 16, 2012 - 06:15am



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    Bank of America: Too Crooked to Fail

(Note: Cross-posted as a comment to the Daily Digest for March 15, 2012.)

Another hard-hitting, MUST READ article by Rolling Stone’s Matt Taibbi.

He puts together in one article enough of the financial fraud committed by Bank of America that’s been in the news over the last few years, and you wonder, how could they be so cumulatively evil, and still keep getting bailed out?

Bank of America: Too Crooked to Fail (March 14, 2012)
The bank has defrauded everyone from investors and insurers to homeowners and the unemployed. So why does the government keep bailing it out?

Take your eyes off them for 10 seconds and guaranteed, they’ll be into some shit again: This bank is like the world’s worst-behaved teenager, taking your car and running over kittens and fire hydrants on the way to Vegas for the weekend, maxing out your credit cards in the three days you spend at your aunt’s funeral. They’re out of control, yet they’ll never do time or go out of business, because the government remains creepily committed to their survival, like overindulgent parents who refuse to believe their 40-year-old live-at-home son could possibly be responsible for those dead hookers in the backyard.

Where’s our Pecora Commission? Where’s our Savings & Loan crisis-era prosecution that landed thousands in court and hundreds with felony convictions?  People in government need to be prosecuted for dereliction of duty to the American people.

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