This just proves the GOP philosophy that corporations like B of A need more tax
breaks and less govt. oversight. I mean can't you just feel all that wealth
Some may interpret this as a good economic indicator but in truth it is a
buildup to another crash. The Banks are making these profits because the very
same practices that brought about the economic crash in 2008 have not been
corrected, and are still taking place today.The largest banks have
hundreds of trillions of dollars in the derivatives market for which they are
now making profits but when that market crashes, the risk has been transferred
to the taxpayer.I suspect that the next eventual crash will be much
more severe than the last, when the Banks were considered too big to fail. The
next time, the Banks now being much bigger, there is no way that the taxpayer
will be able to bail them out of the financial hole they have created.
@Bob,I don't see where there is any comment made in the article
about how these earnings did or did not impact anyone else.So simply
because a company makes smart decisions and has a good quarter, that is reason
to take what they've earned?Here is an idea:Why
don't bitter liberals go make some good financial decisions in their own
lives and stop demanding that rich people take care of them
B of A has some of the highest fees and makes more off their customers than
almost any other bank. My guess is that even though they've cut costs, they
haven't lowered their fees...
During a recent serious illness we found Bank of America to be the kindest and
most compassionate of any institution we worked with.