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| Permalink View Article Stats (1 comment) Not With A Bang, But A Whimper: Bank Of America's Death Rattle By William K. Black Quicklink submitted by Scott Baker (Add your own quicklinks easily with the OpEdNews Quick Link Browser bookmark) |
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 William K. Black, J.D., Ph.D. is Associate Professor of Law and Economics at the University of Missouri-Kansas City. He is also the author of the book "The Best Way to Rob a Bank is to Own One." by Common Dreams |
Bob Ivry, Hugh Son and Christine Harper have written an article that needs to be read by everyone interested in the financial crisis. The article (available here) is entitled: BofA Said to Split Regulators Over Moving Merrill Derivatives to Bank Unit. The thrust of their story is that Bank of America's holding company, BAC, has directed the transfer of a large number of troubled financial derivatives from its Merrill Lynch subsidiary to the federally insured bank Bank of America (BofA). The story reports that the Federal Reserve supported the transfer and the Federal Deposit Insurance Corporation (FDIC) opposed it. |
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Sh*t, Scott.
by GLloyd Rowsey on Sunday, Oct 23, 2011 at 9:24:19 AM