Consumers are still hating on Bank of America for its behavior during and after the financial crisis, and find it just slightly less offensive than the oil spill disaster BP created in 2010.
FORBES: Worst Company In America? BP Edges Out Bank Of America, Comcast And Walmart
Citigroup appears to be indulging in the similar type of behavior that brought that giant bank to its knees in the financial crisis of 2008.
That is exactly the kind of thinking and behavior the Japanese government and central bank intended to create by vowing to defeat deflation and reignite the economy through broad-based asset purchases known as quantitative easing.
Read up on BCCI and First American Bank, Clark Clifford and Robert Altman and their behavior in the 80s and early 90s.
Anyway, ProPublica caught up with Bank of America and asked them to comment on this behavior.
FORBES: BofA Says Its Lehman-Style Balance Sheet Manipulation Is A-Okay
Choosing a bank with good fee policies and taking care with your own banking behavior can save you hundreds of dollars over the course of the year.
It boggles the mind to think of how many bank executives over the following years had to sign off on this behavior, and how many internal controls did not exist or were bypassed.
This conundrum may also be viewed in terms of the significance of the behavior of the monetary base, which is a combination of bank reserve deposits at the Fed (both required and excess) and currency outside the banking system.
FORBES: The Surge in the Money Supply: Meaningful or Meaningless?
" As American Eugene Davis, managing director of local merchant bank Finansa, says: "Right now the Democrats are trying to stand for ethical behavior in government, but they don't have a comprehensive plan or an overriding governing philosophy.
Bank bailouts, automobile and insurance company bailouts, and homeowner bailouts have rewarded rather than sanctioned the reckless behavior that contributed to the real estate bubble.
FORBES: How to Solve the US Long-term Debt Problem: Rebalance the Roles of Markets and Government
应用推荐