Lights Out!
The lights are out for Bank of America Corp. It’s time to turn on the emergency lights to see what’s left of them. The company had reported the first quarterly loss in about 17 years. The lost is mostly their own doing, because of their backroom deals with the U.S. Government to take over Merrill Lynch, which was a bad idea. Their bad choice making has also hurt Wall Street over the many months. Now I read the U.S. Government is handing them a multibillion-dollar lifeline. This lifeline is a thank you for taking over Merrill Lynch, which lost a record $15.31 billion in just one quarter. This is really bad business by our owe government, and these backroom deals should never happen again. Right now we have banks threaten to go bankrupt unless we help. I say let them, then the government can come in and take over the bank, we’re going to own them in no time anyways. I’m just getting sick of banks, it’s time to sleep with our money.
