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Bank Of America

October 19, 2008 5:46 PM

Lesley Stahl speaks to bankers about the federal government coming to the aid of America's biggest banks. Shachar Bar-On is the producer.

Under New Ownership: Bank Of America
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by YouandMeandus December 3, 2011 12:28 AM EST
Wow 25mil.thats not to much,huh.I don't get it .I know you are aware of ALL your fellow Americas that have lost their homes. one of you said it was bad spending.I have no debt just my home.there is a job shortage.How about houses are worth way less, so they boot people out and sell for a price less a price that would be doable for us to stay and make a modifed payment.its simple This county is falling apart from greed and the absents of GOD.Wake up. If foreclosers do not stop now there will be MANY tent cities protecting like you have never seen before.It is Greed.And so we the pay taxes to help the Banks not close so they can sell more house and keep America going That pretty twisted to me .Who is behind this ?this can't really be happening.But it is.So are we gonna just row over?OR is our Government gonna just allow this to continue.The great USA, LAND OF THE FREE,Hey we could just kick people out and resale the house.BANKS got money to help the people so we heard and thought..They help them only ! Do you think GOD will allow this to contiue?and still have this be a great nation...? WE THE PEOPLE? HOW about them the banks and those cities... What on earth are all those people mad about. Hey how about cities spend money to control the people,I bet the police will be hiren.Open the borders we have plenty of jobs. HE IS OUR ONLY HOPE
GOD BLESS AMERICA stop foreclosers NOW
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by happy2no October 22, 2008 6:41 PM EDT
If you are tired of the offers for a credit card then opt out for all offers then you will no longer be asked if you want a credit card period.
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by stopoffers October 22, 2008 3:19 PM EDT
As a customer at BOA I have to say that I am sick of being offered a credit card each time i step foot in the door. The trouble with this economy is that people are living way beyond their means. Each time I (and most everyone) goes to the bank it is "can I offer you a credit card today?, Where do you have your credit cards?, What kind of credit cards do you use?, and the offers go on and on. I wish the push for credit offers would stop. If the public needs a card they will get a card, but don''t prey on the poor or the students or the elderly. I have seen it happen so many times in the local branches and it is a concern. Place your focus elsewhere.
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by mpbryk October 22, 2008 11:14 AM EDT
here is a joke and a half...the credit card debtors are failing...so credit cards are raising their rates...duh...doesnt this sound just like the toxic waste in sub-prime lending?
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by mpbryk October 22, 2008 11:06 AM EDT
when are these *** politicians gonna get smart and stop the foreclosures first...then sort it out?

instead, we just keep stuffing the pigs
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by boaemployee October 22, 2008 1:28 AM EDT
To all those who have decided to take their anger out on Bank of America... To those who say Bank of America had something to do with the forclosure crisis... I would like to inform you... you are dead wrong. Bank of America was one of the few banks who decided not to use poor lending strategies such as, sub-prime loans (aka Negative Amortization loans) and did not push ARM loan (aka Adjustable Rate Mortgages) as much as other lenders. This is the reason they are still afloat and helping their customers retain their homes to the best of their abilities. I am proud to say I am a Bank of American. They are not going ANYWHERE anytime soon. So deal with it. That is why they are number 1!
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by happy2no October 21, 2008 11:38 PM EDT
I just wanted to say that when people complain about bank''s, could it really be their fault that they got in trouble, that they spent money they didn''t have, borrowed money they couldn''t pay back. BOA is not a the enemy they have strived to become one of the strongest banks in the United States, we should be proud that they have acquired company''s that needed help.
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by mscline2 October 21, 2008 3:30 PM EDT
I''ve been interested in reading all the negative comments about B of A. Bank of America is one of the few banks that has retained solvency during the financial crisis we are facing in America.

The clowns that lended money to families making $65K/annually and buying $800K+ houses in the Western part of the US should be held criminally liable and the people who bought those homes should have a brain scan. America was based upon a free market system--a system that is in peril at this point. It is not about borrowing what you want and walking away when it goes south.

As adults we are held accountable for what we legally sign; if you didn''t read the contract or understand lending then you shouldn''t have signed the paperwork until you were a more informed borrower.

Bank of America bought Countrywide after their loans were in default. A bold step and yes, a step that was based upon the opportunity to make money--a financial isntitution that makes money which is why they''re solvent--what a concept.

Those of us who have borrowed responsibly are now paying the economic price of higher cost of capital, diminishing returns on investments and a financially unstable economy because many of our fellow Americans made decisions based upon greed--from lenders and consumers. Please save your whining and complaining--we''re all paying the price for your poor judgement.
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by kris1961 October 21, 2008 9:35 AM EDT
This was the most disgusting piece I think I''v seen so far. This man was made to look like a saint. BOA charges the most for atm fee''s. and I am sure other things. Let me tell you I have Countrywide as a mortgage co. Due to stupidity my rate is on the high side. Try to contact them. I will never go through a mortgage co again. They will not let me out of this for 5 years unless I pay a $5000 penalty. This guy was one of the problems not a saint by any means. I''m a case worker at the welfare dept..let him do my job for a week and make my pay..I can only hope it''s true that karma is a b-----:::::
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by dacougs71 October 21, 2008 2:50 AM EDT
Funny how some people steriotype companies as they do people. I chose to relocate this spring before things really started falling apart. My home was the nicest in the neighborhood and was priced at the same level as other homes. It did not sell. As time went on we have dropped it from $274,950 down to $225,000. I am in the middle of trying to get a short sale approved finally, since I owe $267,000. I however know what happened and understand it is not the Bank''s fault. This is going to damage my credit, but it''s not the Bank''s fault. Buying a home has been called one''s biggest investment. Well guess what? If you had $267,000 in the stock market you''d have done worse than I did with my home. Now the Bank is likely going to take a loss on my investment! How is this the Bank''s fault? The Bank is likely going to save me from years of trying to dig out of this mess by writing off the difference. I wish others would see it the same way. Some lenders only cared about making their profit and selling the debt to someone else. Other lenders such as Bank of America are doing their best to help out homeowners in stress. I aplaud what some are doing! Bank of America is indeed working hard and taking losses for the "little people". In the end I hope they gain the loyalty and respect they deserve!
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