Consumers Digest

Why do you need more money?

Here we go again. Maybe we should let a major bank "fail". After all they really don't need the money. And nobody knows what they did with the first 350 billion.-CHARLOTTE, N.C. -- Bank of America is asking for a second dip into the $700 billion in bailout money Congress set aside for banks, according to a report in the Wall Street Journal. Sources tell the paper that B of A needs help to digest Merrill Lynch, and that the Treasury is willing to help. That acquisition went through January 1. Merrill Lynch lost far more money than was anticipated in its final independent quarter. It comes at a time when Bank of America is weakened by the economic climate. “They have two major integrations to accomplish, they are laying off 42,500 people across the entire franchise at the same time they are dealing with consumer credit quality issues and the deepest recession since the Great Depression,” UNCC Finance Professor Tony Plath said. “The bank is not at risk for failure, but boy, do they have a lot of work to do.” a link to the article and it's commentshttp://www.wcnc.com/news/local/stories/wcnc-011409-mrn-bofabailouts.3ab838e.html?npc

Public Comments

1. "They have alot of work to do" therefore they need a second dip to pay for all that overtime! BS!
2. There is only one answer for these questions. Check your congressmens/womans voting record. If they vote for any bail-out, vote the bum out of office. Make sure to tell your friends and family why and urge them to do the same.