Thursday, August 6, 2009

Bank of America under scrutiny

Links behind two developing stories:

The House Oversight and Government Reform committee has asked Bank of America for more documents in its Merrill Lynch investigation.

Click here to read the letter.

U.S. District Court Judge Jed Rakoff will hold a hearing Monday on Bank of America's $33 million SEC settlement.

Click here to read the order.

- Rick Rothacker

14 comments:

Anonymous said...

Yea - Keep on Charlotte Disturber - keep posting nothing but negative information until one day you will get to post 100k jobs leaving Charlotte and millions upon millions of volunteer hours now gone as Bank of America moves its headquarters. Come on put some good news. Now you know why I dont buy the paper.

Anonymous said...

Bank of America is a p*** poor excuse for a business....It would be a good thing if they would leave Charlotte and take all of their overpaid employees with them

Anonymous said...

I guess you got caught kiting checks or couldn't get a loan?

Anonymous said...

Yea, it would be great if BofA left... Take all their high salaried employees who spend their money here, take away all the other companies that support them, take away all the things they give back to the community. The economy here would be in shambles. You just don't get it Anonymous 8:14.

Anonymous said...

Personally, I don't want BofA to leave, just Ken Lewis.

Anonymous said...

8:14, you're about the stupidest person in Charlotte. Only a fool wants Bank of America to leave. I don't know how you find the intelligence to put finger to keyboard. Take your hate and stupidity elsewhere, please. You are deeply, deeply stupid.

frank said...

I work for BAC. We have given millions and millions to the community. Matter of fact, I was in a meeting today and we are working on getting school supplies to needy children. Do you think that everyone that works at BAC is overpaid, think again. We are paid a reasonable salary and some of us work more than one job to make ends meet. Everything that has gone wrong in life is not our fault. There are hundred and hundred of people with BAC that are good, hard working people that need our jobs just like you.

Anonymous said...

I don't get it, I just don't get it. Why are the Feds so hot to trot after BoA's deal for ML? Sorry, but something smells fishy here. They were forced to overpay a fine for paying bonuses to ML employees, yet there was no public proof that BoA did anything wrong.

Sorry, but I don't like where this is going. No, I don't believe that the Feds are trying to push every big bank to NYC, but I do believe that BoA is being unfairly punished. God help this town and the community if Bank of America leaves.

Anonymous said...

They're not being "unfairly punished." The reality is they, and all giant companies basically steal from there customers in small ways on a daily basis resulting in billions in unearned profits. The only way the gov't can stop it, is when someone makes a small mistake. Ken made a false statement 8 months ago, period. They're going to levy a fine, the fine can be up to the amount lost, in this case, billions. That's just the way it goes, $33M is a small price to pay.

What's more worrisome is that the bank is basically insolvent. And yes, I actually understand what it means, and how you can reassign and park assets to boost capital ratios.

By the way, if you all haven't noticed, they've been moving all the high paying jobs to NY for well over a year now, and they're moving the rest of them with the new tower open on Bryant Park. It may be a "Charlotte" bank still, but in 5 years the only thing being done here is retail...

Anonymous said...

In response to "you're about the stupidest person in Charlotte. Only a fool wants Bank of America to leave. I don't know how you find the intelligence to put finger to keyboard. Take your hate and stupidity elsewhere, please. You are deeply, deeply stupid."

It is interesting how every "discussion" sinks to a personal attack on the commenters. True, you may not agree with someone's viewpoint, but how does that immediately indicate that they are "stupid". I guess "stupid" just means they don't agree with you !

Anonymous said...

Rothacker is a hack writer...cuts and pastes constantly from other news outlets.

Anonymous said...

The DC Chicagoland gangsters are clearly trying to knock a southern city and the south in general out of the saddle from that vast frozen tundra wasteland in the north. Mutt messiah and his cronies are clearly biased and have shunned The Great American South from day one of this prez victory.

There is a never ceasing constant major barrage attack in the lib anti-south media against the south at every turn. Is this the rebirth of the scumbag tyrant commie land of Lincoln?

Isint it clear north favoring Obama and his Feds want BOA to be taken over like Wachovia to furthur take down southern city Charlotte and will never stop fighting their 150 year old marxist uncivil war trying desperately to ressurrect the concrete jungles of the dead north?

The time is quickly coming when the 2nd great split will occur and the real America of the south will once again form its own nation arise leaving the tired wornout lib worthless frozen northern wasteland to die in its own feces.

Billy said...

it's all the banks in ameriKKKa the 1's th@ practice usury puttin' a percentage on the borrowed amount thus gainin' an interest 2 benifit the company and not the consumer. All souls will have their Day in Court where it is meeted out the proper sentencing for what deeds it had it's flesh do. Y'all F^ck!n' $y$tem is collapsin' underneath your feet...we still gone eat...When All Riot(W.A.R.)

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