Aces High Bulletin Board
General Forums => The O' Club => Topic started by: Dos Equis on October 02, 2008, 06:00:19 PM
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http://www.marketoracle.co.uk/Article6587.html
Third item down.
You may wish to withdraw any holdings you now have in BoA. If the rumor of bank managers getting signs delivered is true, then once they close, there will be no access to your savings or checking accounts, not even electronically.
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Googling "WE'RE SORRY, BUT DUE TO CIRCUMSTANCES” yields 1 single solitary hit.
No corroboration
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But hey, thanks for trying to stir up more fear & paranoia :aok
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http://www.dailypaul.com/node/66028
(http://www.dailypaul.com/node/66028)
http://www.godlikeproductions.com/forum1/message622880/pg1 (http://www.godlikeproductions.com/forum1/message622880/pg1)
http://www.businessweek.com/ap/financialnews/D93HJ0700.htm (http://www.businessweek.com/ap/financialnews/D93HJ0700.htm)
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This is actually more interesting to me...
This from a friend in Seattle: “I was talking to my neighbor last night. He is in finance in the county government, King County (Seattle). He said there are some very secretive budget talks being held, very hush, hush. Apparently, the county has lost around $200 million of taxpayer money in toxic paper investments , with huge implications on the budget. He says he is not privy to the details, but he is taking a 10-day vacation starting today, because he has nothing to do since everything is in flux.”
Given the insolvency and budget issues most municipalities have already the thought that many may have lost significant capital reserves is staggering.
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:noid
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it is rumors like this that cause runs on banks, back when johnny Carson was on TV he made a joke about the stores running out of toilet paper, the next day all the stores were sold out of the paper.
each checking and savings accounts are insured for $100.000, soon to be increased to $250.000.
FDR said "you have nothing to fear but fear itself". Some people get their kicks by running around shouting the sky is falling.
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BoA has been giving loans to illegal aliens that have been fiscally deficient, it would not surprise me if they went under.
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FDR said "you have nothing to fear but fear itself".
Careful john. Around here quoting FDR in any manner that can be seen as positive is sure to get you doused in gasoline and lit up.
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i disagree with a lot of what FDR did but he had some good quotes, like in 1929 when the stock market crashed president FDR went of television and said ...
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i disagree with a lot of what FDR did but he had some good quotes, like in 1929 when the stock market crashed president FDR went of television and said ...
........In 2008 watch for the government to try the Hoover plan again first.....
ya I know:)
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it is rumors like this that cause runs on banks, back when johnny Carson was on TV he made a joke about the stores running out of toilet paper, the next day all the stores were sold out of the paper.
each checking and savings accounts are insured for $100.000, soon to be increased to $250.000.
FDR said "you have nothing to fear but fear itself". Some people get their kicks by running around shouting the sky is falling.
I have said this a few times...Insured money is a joke...How in the world can the Government cover all that money if there is a run on
the banks?? Or if several banks go down in quick fashion?
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i disagree with a lot of what FDR did but he had some good quotes, like in 1929 when the stock market crashed president FDR went of television and said ...
Why do you mock Joe so?
And BTW, my personal checking, business checking, passbook savings, CDs, equity line of credit and boat loan are with BofA. If I didn't have access to my accounts I'd have to- (gasp)- find a new bank.
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http://www.dailypaul.com/node/66028
(http://www.dailypaul.com/node/66028)
http://www.godlikeproductions.com/forum1/message622880/pg1 (http://www.godlikeproductions.com/forum1/message622880/pg1)
http://www.businessweek.com/ap/financialnews/D93HJ0700.htm (http://www.businessweek.com/ap/financialnews/D93HJ0700.htm)
Little late, i just take all of my $$$ from my bank, heh
Dos Equis, you are a moron
BoA has been giving loans to illegal aliens that have been fiscally deficient, it would not surprise me if they went under.
yea right, none without SSN can get loan in US
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The bank will go down for sure if everyone rushes to withdraw their money. Sounds to me like someone is purposefully trying to bring down BoA. Quite an expensive way to get kicks out of something.
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BoA has been giving loans to illegal aliens that have been fiscally deficient, it would not surprise me if they went under.
I wasn't aware that SSN's weren't required for loans. Oh wait, that's right.... THEY ARE.
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I wasn't aware that SSN's weren't required for loans. Oh wait, that's right.... THEY ARE.
Apparently you aren't aware of illegals using stolen ssn's....
Wow, a scientist and even that goes over your head.
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I wasn't aware that SSN's weren't required for loans. Oh wait, that's right.... THEY ARE.
Apparently also you need to know that BoA had quite a backlash (which they ignored) because they were opening accounts for illegals w/o ssns and issuing credit cards to illegals w/o ssns
personally if I had thought about it, i should have told them i wanted a credit card, made up a mexican name and had myself a spending spree.
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I wasn't aware that SSN's weren't required for loans. Oh wait, that's right.... THEY ARE.
I wasn't being partisan, nor was I showing some anti-immigrant bias... BoA DID did give accounts and loans to illegals within the US.
Do a search next time, before you flame me. I was stating a fact, and like a colonoscopy sometimes the truth hurts too.
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I wasn't being partisan, nor was I showing some anti-immigrant bias... BoA DID did give accounts and loans to illegals within the US.
Do a search next time, before you flame me. I was stating a fact, and like a colonoscopy sometimes the truth hurts too.
No flame sir. Was wondering... what you thought happened to those accounts? I'll give you a clue... they weren't write-offs.
BoA is probably the institution that has the best footing, currently. The start of this rumor obviously had other malicious intent.
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No flame sir. Was wondering... what you thought happened to those accounts? I'll give you a clue... they weren't write-offs.
I hope so, all people need a chance and having money in a bank tends to make people better citizens to boot.
How do you know BoA profitted from this? Have you seen their books?
People said many of the mortage lending institutions had a solid fiscal foundation too, take a look where they are.
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I wasn't being partisan, nor was I showing some anti-immigrant bias... BoA DID did give accounts and loans to illegals within the US.
Do a search next time, before you flame me. I was stating a fact, and like a colonoscopy sometimes the truth hurts too.
accounts yes, debit card, why the hell not? most banks can
Loans i don't think so. They can send promotional letters with CC applications , but none will give loan/cc to undocumented person.
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but none will give loan/cc to undocumented person.
Nothing in federal law prohibits illegal immigrants from owning homes. And banks can legally accept passports, tax identification numbers, and consular cards from people who want to open bank accounts or get home loans, according to the Comptroller of the Currency, a bureau of the US Treasury that regulates national banks.
source: http://www.boston.com/news/local/articles/2007/09/18/quietly_living_american_dream/
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I guessed I killed that debate...
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Bank of America is very proud of the fact that they help illegals with all their financial needs.
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Bank of America is very proud of the fact that they help illegals with all their financial needs. They figure the working class Americans would pick up the tab.
If Bank of American can support it and aren't recklessly giving individuals loans (illegal or not), who cares? Let BoA give people a chance, as long as they can afford it.
"Well Mr. Illegal Immigrant, you have been in the country for 10 years. You have paid your bills, your taxes, and have money in hand for a down payment. We would be willing to give you a loan."
Mind you, these are high risk loans and should be but a small fraction of 1% of the total loans out by the bank.
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It's wrong to aid someone in breaking the law. All illegals are criminals and aiding a criminal to break the law makes you/bank a criminal.
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From what I've read (and quoted above), it isn't illegal to give the 'undocumented' bank accounts, loans, or credit cards.
Besides, entering the US is a misdemeanor and not a felony.
Is it a great idea to insure these accounts via FDIC? No..
Is it a great idea to maintain a large % of the bank loans on undocumented individuals? No...
That said, do you really think all the illegal aliens in this country currently are going to be sent home? We might as well start integrating them into our society now because there is no way, no how we can 'round them up' and send them home without massive political/social/humanitarian repercussions.
I began the discussion in regards to BoA going under, mostly because they were willing to take on 'undocumented workers' banking needs. I have sympathy for them, NOT for the bank, and my sympathy isn't expressed in having to pay for the bank's idiotic move to become a charity.
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It is wrong to reward criminal activity of any sort.
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this statement is as destructive and paranoid as harry reid's about a major insurer on the verge of backrupcy .. they, the insurance co's
are worse off than they were before harry opened his trap
http://money.cnn.com/2008/10/02/news/companies/insurance_stocks/index.htm (http://money.cnn.com/2008/10/02/news/companies/insurance_stocks/index.htm)
any more destructive agenda driven rumors anyone? anyone?
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any more destructive agenda driven rumors anyone? anyone?
If there any sign that these companies would of gone under as they did, people wouldn't be as paranoid now.
Instead of losing faith in a few companies involved in risky transactions, Wall Street and our own government have undermined the economy as a whole.
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If Bank of American can support it and aren't recklessly giving individuals loans (illegal or not), who cares? Let BoA give people a chance, as long as they can afford it.
"Well Mr. Illegal Immigrant, you have been in the country for 10 years. You have paid your bills, your taxes, and have money in hand for a down payment. We would be willing to give you a loan."
Mind you, these are high risk loans and should be but a small fraction of 1% of the total loans out by the bank.
when did illegals start paying taxes? ooo yea...with their STOLEN social security numbers??
illegals are just that.....illegal.....criminal s........no rights here.
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BoA has been giving loans to illegal aliens that have been fiscally deficient, it would not surprise me if they went under.
wow.. if that's accurate..
The BoA aiding and abetting illegals aspect is more or less worse than the wall street and govt mismanagement that helped the current financial situation. But it's definitely not defendable, imo.
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If they go under, does that mean I don't have to pay back the $2,600 I own on my BOA credit card? If so, I'm going to max it out to $10K right now. :rock
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If they go under, does that mean I don't have to pay back the $2,600 I own on my BOA credit card? If so, I'm going to max it out to $10K right now. :rock
Lol, please tell me your joking? If BoA went under, someone else would just buy their debt. So yes, you would still have to pay the $2,600 you owe on your BoA credit card.
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everybody in america should declare bankruptcy monday.
before the government does on tuesday.
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:lol
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Normally I avoid discussing any advice regarding buying or selling of stocks, but I felt this is important enough to share and warn you since this explosive situation might prove to be yet another ENRON. Please review any holdings you might have in the following stocks:
American Can, Interstate Water, National Gas Company, Northern Tissue
Company.Due to uncertain market conditions, I advise you to sit tight on your
American Can, hold your Water, and let go of your Gas. You may be
interested to know that Northern Tissue touched a new bottom today,
and millions were wiped clean.It’s a tough market out there. Be careful!
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Sure sign they're not going under.? I thought of this thread the second I opened my mail...lol.
BoA just upped my credit limit, as of yesterday (FRI). I don't have spectacular credit by any means. (around 700 to 750) I still have outstanding medical bills that came from an extended injury and rehabilitation (Badly broken leg in a hockey game...I had to relearn how to walk.)
Yet they gave me a better than standard increase on my personal credit. Other banks aren't doing this.
Seriously, rumors like this are why there was a run on banks in the 20's.
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odd, there were lines at the BofA here today..
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Hmmm..Their website has been down all day. Plus I noticed they have signs in Spanish.
I wonder if this is the predicted backlash from the OJ verdict? :uhoh
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home depot has signs in Spanish. :O have we been assimilated?
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Sure sign they're not going under.? I thought of this thread the second I opened my mail...lol.
BoA just upped my credit limit, as of yesterday (FRI). I don't have spectacular credit by any means. (around 700 to 750) I still have outstanding medical bills that came from an extended injury and rehabilitation (Badly broken leg in a hockey game...I had to relearn how to walk.)
Yet they gave me a better than standard increase on my personal credit. Other banks aren't doing this.
Seriously, rumors like this are why there was a run on banks in the 20's.
Many banks are upping the credit limit, not by a lot, but still upping it. Trying to encourage the economy to kickstart in one way or another, once people feel comfortable to spend at least a little, the oil will start flowing through the system again.
I wish the mass media would learn to not say the economy is such and such based on the dow - most people don't understand the dow reacts to them, not the other way around.