Something Here Stinks!
If it looks like a bailout, smells like a payoff, and tastes like crony corruption---the Obama regime is involved.
These are the facts concerning Bank of America's performance record to date. The stock value of B.O.A. stock has fallen 45% in the past year!
As you may have heard, Warren Buffett has "invested" FIVE BILLION dollars in Obamabank, (Bank of America). This backdoor bailout will include many perks and tax breaks for Buffett. He will enjoy a guarunteed 11% return on his investment, to be paid ahead of all other shareholders. Tax breaks are incuded at maximum levels.
Arguably, Obama's chief economic advisor at the moment, Warren Buffet has backed El Presidente's call for higher taxes on the rich. However , in the meantime, he has hired a team of lawyers just to protect his capital investments from the tax man. This payoff to the Obama political machine is meant to save the Dear Leaders bacon in a number of ways.
As you probably know, and I am here to tell you, when government gets its grimy corrupt paws on any sector of our economy it is DESTINED TO FAIL! In one manner or another Obummer and Dodd/Frank have control of many, if not all of the largest banking concerns in America. The smaller community banks are being targeted for litigation on issues of "robo-forclosure" policies and will be driven into ultimate failure by the Obama regime.
Here is another kicker---Warren Buffett is not acting totally out of altruistic concern for the "Bamster". He has been getting insider info on the future direction of the White House economic policy!
Two days after Buffett bought into Obamabank, the White House floated a proposal which will be part of Obummer's upcoming economic "bailout" plan to be announced after labor Day.
This plan will turn over most of Bank of America's worst toxic asset holdings to Fannie and Freddie---LEAVING YOU, THE TAXPAYER ON THE HOOK FOR THESE, UNSECURED FAILED LOANS TOTALLING IN THE BILLIONS!
Secondly Buffet has been notified that Obamabank will not be held legally responsible for any illicit practices involving these millions of forclosures---They get a "waiver" in other words.
Forbes reports that Eric Sneiderman, AG in charge of investigating Bank of America, is under pressure by Obama to "let up". Well, it turns out that Schneiderman had the cajones to stand up to the bamster and was summarily removed fom his position!
Promise kept to Warren Buffett, and to the Bank of Gay America! This link will explain it all.