Bank of America bad for America

New US President Barack Obama is signalling further steps to establish a huge, government funded “bad bank” to buy toxic assets and help stem the credit crisis.

US Treasury Secretary designate Tim Geithner says Obama will set out a full recovery plan for the US economy within weeks. Geithner’s key aim was to get banks lending to one another and the wider market in order to heal the country’s economic problems.

Meanwhile, the huge bailout of US banks remains controversial, with the Service Employees International (SEIU) launching a campaign to make Bank of America pay back their bailout. The union says the bank is continuing the same unethical business practices that led to the financial crisis in the first place, and is particularly critical of corporate largesse such as private jets when the bank’s staff are on low pay and have minimal healthcare insurance.

Advertisements

1 Response to “Bank of America bad for America”


  1. 1 Can you hear me? 28 July, 2009 at 11:36 am

    Bank of America should be closed

    Billions in bailout money and they want more. Over 30, 000.00 bank of America employees laid off and billions in toxic assets Bank of America created in the first palace with their greedy and moronic purchasing decisions cleared away for them by us the Taxpayers.

    Highest foreclosure rate of any bank in America or in all of U.S. history while getting those billions in taxpayer bailout funds.

    Investors have lost billions because of Bank of America and the economy is being pulled under by Bank of America and yet our government keeps giving them Bailout money.

    Sometimes when a horse comes up lame you have to shoot it to be merciful. Bank of America needs to be put down now before we all go down with it.

    Mr. President, can you hear the cries of the American people from up there in the WH?

    If you go to http://www.justiceandlight.com/ Mr. Obama, you will see what Ken Lewis CEO of Bank of America is really doing to Americans all across our nation.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s




You can contact us at:

0800 FINSEC (0800 346 732)
union@finsec.org.nz
www.finsec.org.nz


Creative Commons License
Join Now 0800 FINSEC

RSS LabourStart – act now to help other workers

  • An error has occurred; the feed is probably down. Try again later.

Finsec Photos

Cathie Lendrum

Carl and Oliver

Westpac North East Valley, Dunedin

Westpac North East Valley, Dunedin

piggybank on leash

More Photos

Archives


%d bloggers like this: