Bank of America has a derivative exposure of $50.135 Trillion dollars
The columns above are $100 bills representing $50.135 Trillion
See additional comments on Tea Party Nation.
BofA is sticking the tax-payers with a MASSIVE bill, by moving derivatives to accounts insured by the federal government for a total of $53.7 trillion as of 06/2011. During 2011-12 BofA has been in need of cash, so Warren Buffett gave BofA $5 billion. Same year BofA sold its stake in China Construction Bank to raise $1.8 billion in cash.
Bank of America paid $22 million to settle charges of improperly foreclosing on active-duty troops BofA recruited 3 cyber attack firms to attack WikiLeaks but the Anonymous hacker group hacked the security firms first.
BofA was sued for $31 billion in home-loan losses in 2011, the bank is involved in many lawsuits, too many to document. BofA also received a SECRET $1.344 trillion dollar bailout from the Federal Reserve.
Bank of America “has severed relations with an American company because of a reported bias against their industry” which is the manufacture of firearms. Whether Bank of America is under the control of the government, is controlling the government or is a combination (Fascism) of the first two options, we know that they understand that the 2nd amendment is one protection that is standing in their way. Based on the lack of available inventory of ammunition and firearms, it appears that the people share this understanding.
David DeGerolamo
Bank of America Reportedly Drops Gun Company for Political Reasons
Bailout recipient Bank of America has severed relations with an American company because of a reported bias against their industry. McMillan Group International released an extraordinary statement on Facebook regarding the incident:
McMillan Fiberglass Stocks, McMillan Firearms Manufacturing, McMillan Group International have been collectively banking with Bank of America for 12 years. Today Mr. Ray Fox, Senior Vice President, Market Manager, Business Banking, Global Commercial Banking came to my office. He scheduled the meeting as an “account analysis” meeting in order to evaluate the two lines of credit we have with them. He spent five minutes talking about how McMillan has changed in the last five years and have become more of a firearms manufacturer than a supplier of accessories.
At this point I interrupted him and asked “Can I possible save you some time so that you don’t waste your breath? What you are going to tell me is that because we are in the firearms manufacturing business you no longer what my business.”
“That is correct” he says.I replied “That is okay, we will move our accounts as soon as possible. We can find a Second Amendment friendly bank that will be glad to have our business. You won’t mind if I tell the NRA, SCI and everyone one I know that BofA is not firearms industry friendly?”
“You have to do what you must” he said.
“So you are telling me this is a politically motivated decision, is that right?”
Mr Fox confirmed that it was. At which point I told him that the meeting was over and there was nothing let for him to say.
McMillan is now refusing to accept Bank of America cards from customers for payment.
McMillan is heavily involved with U.S. national security. McMillan rifle stocks are the standard for the Marine Corps’ favored M40A3 sniper rifle. McMillan products, from stocks and other accessories to complete rifles, are used by U.S. regular and special forces and by American military allies around the globe.
