Bank of America On Verge of FAILURE? Moving Derivatives!

A developing story of Bank of America attempting to more derivatives from their investment arm (Merrill Lynch) to their commercial unit in hopes of having the junked backed by the FDIC (federal government and possibly the taxpayers).

I explain what derivatives are, how much Bank of America's exposure maybe and how it will affect the taxpayers. Thank you Karl Denninger (http://market-ticker.org/).

BofA Said to Split Regulators Over Moving Merrill Derivatives to Bank Unit
http://www.bloomberg.com/news/2011-10-18/bofa-said-to-split-regulators-over-m...

Is It Time To Close Down Bank of America?
http://market-ticker.org/akcs-www?post=196184

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Category:

Education

Tags:

• econtalk
• insolvent
• TARP
• Federal
• Reserve
• Bank
• of
• America
• collapse
• economy
• bailout
• FDIC
• insurance
• derivatives
• DEMCAD
• Reginald
• Kaigler
• Crisis
• Economic
• talkshock

[TheMysteriousAtheist]

how the hell would BoA have 75 trillion in derivatives> The GDP isnt even that much.

[DEMCAD]

@TheMysteriousAtheist Because it's speculation and not based on anything of real value.

[101crazys]

@DEMCAD they FDIC covers $250,000 and I think the money would be better spent on other things. I don't think we should not cover bank losses or refund money that was jacked by bank robbers.

[DEMCAD]

@101crazys If we didn't, people would hoard money and businesses would not be able to operate.

[OldPhartbsa]

B of A is trying to structure a prisoners dilemma with the transfer. They are purposefully making themselves mega too big to fail. It is pure sham. The bank is attempting to shoot a shot over the bow of the FDIC as a warning. Unfortunately, the FED is backing them up.

If you have an account, any account, with Bank of America, you have an obligation to close it immediately...and demand payment in CASH!! Make them go broke.

[aivarasram]

Really like your take on this situation. Keep up the good work! Looking forward to all your videos after watching this. Gl!

[CRAPCANNONS]

Basic depositors should at least be allowed to get their money out before anything happens to BOA.

[jjason23296]

Bank of America might be planning on defaulting . They might wanna hold the FDIC as hostage that way they can get another bailout to pay for all there derivatives but the government can't give them as much as they might need. I think we America will recess into a 2 nd world nation.

[bladeproject1]

If your in BofA, you will get your paper. It may take a while to cut down the trees though.

[TheVirtuoso9]

the whole purpose of the elite funding and supporting the Occupy Wall Street naive protestors is to soon push a run on the banks, which will impoversh Americans and make them desperate on a global government to provide their solutions. this is the method to bring about total desperation that is called for in the protocols of the learned elders of zion.

[kyleshonda]

@cresidue Where are your videos? I dont see shit for you....all you do is talk shit! you think you know shit, but you dont....YUPPPP I AM FAT and it dont bother me you dumb cartoon obsesed FAG....look at your pic and your calling me a fag!!! DUDE GET A LIFE! at least I fucking try to do shit on here besides talk shit to people! FAG ASS LOSER! you write me again and Ill report you!!!!

[bilbob7624]

what i want to know is why is your dog on a chain? it looks quite cruel.

[kcpreps13]

i dont know if fdic falls under the same umberella of profit as typical ins ,but they used to say insurance companies made their true profit on the housing market ie investments with your premiums ,but with the housing crash i wonder what the state of affairs is with current companies and if the fdic has lost that revenue.

[cresidue]

@kyleshonda Ok, fat fag boy... LMFAO at you calling me a "loser"!!!

[supermanhelloring]

Temporary Unlimited Coverage for Noninterest-bearing Transaction Accounts

This is the loop hole to get around 250,000 FDIC cap